NIFTY50 Closes at 23,346 on Third Straight Gain
The benchmark index advanced 76 points to 23,346. Falling crude prices supported sentiment across the board.
The NIFTY50 index closed at 23,346 on Friday. This marks a third consecutive session of gains. The index advanced by 76 points during the trading day. Traders tracked the movement in crude oil prices closely. Falling energy costs supported broader market sentiment.
The SENSEX index ended the session at 74,295. It declined by 20 points from the previous close. The NIFTY50 touched an intraday high of 23,389. Heavyweights drove the initial rally. HDFC Bank and Bharti Airtel led the charge. Larsen & Toubro and Power Grid also contributed to the gains.
Crude Oil Eases Supply Fears
Market participants noted a decline in crude prices. Reports indicate Saudi Arabia found alternative delivery routes. These routes bypassed the closed key pipeline. The alternative path goes via Oman. This development eased fears of severe supply disruption. Houthi attacks had threatened the original pipeline. Asian buyers continue to receive shipments. The stability in energy inputs supported equity valuations.
Sector Performance And Breadth
Eleven of fifteen major sector indices ended higher. The NIFTY Metal index led with a 1.5% gain. Realty and Oil & Gas sectors also rose. Financial Services and Healthcare indices posted gains between 0.5% and 1.4%. Pharma and Media indices followed suit. Auto and FMCG sectors faced selling pressure. IT and consumer durables shares also declined.
Market breadth remained positive across the National Stock Exchange. 2,388 shares ended the day higher. 1,154 shares closed lower. This indicates broad participation in the rally. GN auto markets/indices data confirms the positive trend. The ratio of advancing to declining stocks favors bulls.
Key Individual Stock Movers
Adani Ports was the top gainer in the index. The stock rose 4.93% to close at 1,824. Jefferies highlighted growth drivers in the Adani Group. The bank pointed to capacity expansion as a key theme. Strong transmission and port outlooks were also noted. Rising logistics opportunities supported the stock price. Improving cash-flow prospects further boosted investor confidence.
Redington shares jumped over 3% to a record high. The stock hit 413.20 rupees. The Apple iPhone series went on sale. ACME Solar Holdings surged more than 5%. The company commissioned Phase-II of a BESS component. This project is located in Rajasthan. The phase includes 52.32 MW capacity. It also includes 209.28 MWh of storage. TCS and Tata Motors were among the top losers. SBI Life and Coal India also declined.
