Sensex, Nifty close in green as banking, metal stocks lift market

The S&P BSE Sensex added 218.14 points to close at, while the NSE Nifty50 gained 104.20 points to end at 24,854.05.

In Short

• Banking, metal sectors lead market rebound
• Midcap, smallcap indices stay positive despite volatility
• FMCG, Oil & Gas sectors decline in mixed market

Benchmark stock market indices rebounded to close higher on Friday, led by a rally in banking and financial stocks.

The S&P BSE Sensex added 218.14 points to close at, while the NSE Nifty50 gained 104.20 points to end at 24,854.05.

Vaibhav Vidwani, Research Analyst, Bonanza said that the domestic market showed resilience today, recovering from early losses to close positively.

"The rebound was primarily driven by gains in the banking and metal sectors, despite ongoing concerns over disappointing earnings reports from major companies like Bajaj Auto and Nestle, which have dampened market sentiment. As earnings season progresses, investors are opting cautious approach, focusing on stocks with strong earnings visibility in this uncertain environment," he added.

Broader market indices showed resilience with both Nifty Midcap100 and Nifty Smallcap100 managing to stay in the green. The Nifty Midcap100 advanced by 0.31%, while the Smallcap100 index posted a modest gain of 0.06%. However, market volatility remained elevated despite VIX declining by 2.61%.

In today's trading session, the majority of sectoral indices displayed positive momentum, with Nifty Private Bank leading the advances with a robust gain of 1.90%.

Nifty Bank and Nifty Metal both climbed 1.57%, while Nifty Financial Services showed strong performance, rising 1.50%. Nifty Financial Services 25/50 followed closely with a 1.48% increase. Nifty Media advanced by 1.38%, and Nifty PSU Bank gained 1.31%. The auto sector also participated in the rally with Nifty Auto moving up by 0.62%. Other sectors posting modest gains included Nifty Pharma and Nifty Healthcare Index (both up 0.44%), Nifty Consumer Durables (0.32%), Nifty Realty (0.30%), and Nifty Midsmall Healthcare (0.29%). However, two sectors bucked the positive trend, with Nifty FMCG declining by 0.51% and Nifty Oil & Gas slipping 0.20%.