Indian Stocks End the Week on a High with Strong Gains in Large-Cap Sector

Indian stock markets closed the week on a positive note as large-cap stocks attracted investors with appealing valuations. The Nifty 50 rose by 159 points, and Sensex increased by 557.45 points. Despite global volatility, Indian markets showed resilience, driven by a sharp rebound and short covering.

In the final trading session of the week, the Indian stock markets witnessed a robust performance, driven by investor interest in large-cap stocks available at attractive valuations. By the close, the Nifty 50 stood at 23,350.40 with an increase of 0.69 percent, while the BSE Sensex gained 0.73 percent, reaching 76,905.51.

The Bajaj Broking Research team highlighted that the appeal of large-cap stocks amid global volatility led to a strong rebound in Indian markets over the past 2-3 weeks, with the Nifty rising by 6.5 percent from its recent lows. Despite trade concerns and fluctuating US policies keeping global markets uncertain, India exhibited resilience.

According to market insights, the recent pullback was due to short covering following a four-month decline. Rohan Shah, a Technical Analyst at ACMIIL, noted that surpassing key resistance levels could push the Nifty higher, though failing to break past might lead to some profit-taking. In broad market performance, midcap and smallcap indices outpaced the Nifty, with gains between 1-2 percent.

BPCL, ONGC, and Bajaj Finance emerged as key gainers, while Hindalco and Tata Steel were notable underperformers. Sectors like oil & gas and media posted gains, contrasting with losses in consumer durables and metals. Nifty's week concluded with a bullish move, forming a significant bullish belt-hold candlestick pattern, marking it as a standout week for the index.

(With inputs from agencies.)