November 29, 2024
New Delhi, India
Stock Market Highlights: Bulls Return as Indices End Higher
The Indian equity markets rebounded strongly on Friday, with the BSE Sensex climbing 759 points to close at 79,802.79, while the NSE Nifty50 rose 216.95 points, finishing at 24,131.10. The recovery followed sharp losses earlier this week, driven by a broad-based buying interest.
Sectoral Performances and Key Movers
Pharma and media stocks outperformed, with the Nifty Pharma index gaining 2.35% and the Nifty Healthcare index up 2.04%. Key contributors to the rally included Bharti Airtel, which rose 4%, and Sun Pharma, which gained 3%. Other notable gainers were Cipla, Mahindra & Mahindra, and Tata Consumer Products.
On the flip side, Power Grid Corporation, Shriram Finance, and Hero MotoCorp were among the few laggards, with losses extending up to 1.35%.
Broader Market Trends
The broader markets mirrored the positive sentiment, as the Nifty Midcap100 index added 0.16%, and the Smallcap100 index gained 0.75%. However, sectoral indices Nifty PSU Bank and Nifty Realty ended in the red, bucking the overall trend.
Reliance and Heavyweight Contributions
Reliance Industries Ltd. (RIL), a heavyweight in the index, contributed significantly to the gains with a 1.63% rise.
The session’s strong performance indicates a positive market sentiment, especially in the pharmaceutical and media sectors, setting the stage for the upcoming week.
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