The markets ended mixed on Friday as a late recovery in select heavyweight shares helped the Nifty 50 finish higher, while the Sensex closed marginally lower. The Nifty 50 gained 75.80 points, or 0.33%, to close at 23,346.40. The index moved above the 23,300 mark during the session and touched an intraday high of 23,389. The Sensex, after gaining as much as 414 points in early trade, lost momentum and ended 19.63 points, or 0.03%, lower at 74,294.96.
Easing crude oil prices, positive Asian market cues and buying in banking and infrastructure stocks supported sentiment. However, continued foreign investor selling and weakness across several Tata Group and information technology stocks limited the gains.
The recovery came after several sessions of weakness in the Indian stock market. Investors found some comfort in lower crude prices, which eased concerns over inflation and India’s import bill. Brent crude remained above $100 a barrel but declined during the session, offering some relief to oil-sensitive sectors and the broader market.
Adani Ports emerged as the biggest Nifty gainer, rising 4.93% in late trading. Adani Enterprises gained 3.31%, while Bharti Airtel climbed 3.12%. HDFC Bank and Bajaj Finance were also among the strong performers, advancing 2.52% and 2.49%, respectively. The gains showed that buying interest was not limited to one sector, with infrastructure, telecom and financial stocks attracting investors.
The losing side was led by Tata Consultancy Services, which fell 3.88%. Tata Motors Passenger Vehicles and SBI Life Insurance were also among the prominent laggards. Coal India and Maruti Suzuki declined as well, adding to the pressure on selected large-cap shares.
Tata Group stocks remained under particular pressure during the session. TCS, Tata Motors Passenger Vehicles, Tata Investment Corporation and Tata Chemicals were among the group companies that recorded sharp declines. The selling came amid continuing uncertainty around Tata Sons, including questions surrounding its leadership and a possible listing of the holding company.
Information technology stocks were another weak spot. Selling in TCS weighed on the Nifty IT index and offset gains in banking and other sectors. The divergence between financial and technology stocks highlighted the selective nature of Friday’s buying rather than a broad-based market recovery.
The broader market, however, showed better participation. Mid-cap and small-cap stocks advanced during the session, with investors using the recent correction to pick up selected counters. The rise in market breadth indicated that domestic buyers remained active even as foreign investors continued to reduce their exposure to Indian equities.
Foreign institutional investor flows remained a concern. Overseas investors have been selling Indian shares amid elevated global bond yields, high US interest rates and uncertainty surrounding the Middle East. Domestic institutional investors have provided some support, helping absorb part of the foreign selling.
Crude oil remained a key factor behind the market’s movements. Prices above $100 a barrel continue to be a concern for India because the country relies heavily on imported crude. A sustained rise in oil prices can increase the import bill, put pressure on the rupee and raise concerns about inflation and corporate costs. The decline in crude on Friday therefore provided some breathing room for investors.
Global market cues were also supportive. Asian equities largely gained, helping improve risk appetite in Indian markets. Lower US bond yields and the easing in oil prices added to the positive tone, although concerns about global monetary policy and geopolitical tensions remained.
The Nifty’s close above 23,300 will be closely watched by traders after the index recovered from recent losses. Friday’s move, however, came against a backdrop of continued caution. The Sensex and Nifty have faced pressure in recent weeks as investors weighed high crude prices, foreign fund outflows, weak global cues and Middle East tensions.
The weekly picture remained weak despite Friday’s recovery. The Nifty declined about 0.22% during the week, while the Sensex lost around 0.65%. This marked the sixth consecutive weekly decline for Indian equities, the longest such losing streak since 2020.
Investors will now track crude oil prices, foreign institutional flows, the rupee and global bond yields for the next market cues. Developments in the Middle East and movement in large-cap stocks, particularly Tata Group and IT shares, are also likely to influence trading. Friday’s gains in the Nifty offered some relief, but the market remains sensitive to global risks and the direction of foreign investment flows.