Indian equity markets surged on Friday, with benchmark indices opening strong and sustaining gains through early trade. The Sensex rose around 820 points, while the Nifty 50 moved firmly above the 24,050 mark, supported by broad-based buying across key cyclical sectors.
The rally was led by strong performances in banking, financial services, and auto stocks. Eicher Motors, Axis Bank, Shriram Finance, Asian Paints, and Wipro were among the top gainers, drawing solid investor interest on expectations of steady domestic demand and continued credit growth. Infrastructure-linked stocks also contributed to the upward momentum, adding strength to the broader market rally.
On the losing side, IT and pharmaceutical heavyweights weighed on the indices. TCS, Infosys, HCL Technologies, Tech Mahindra, and Sun Pharma were among the major laggards, as selling pressure persisted in export-oriented sectors amid concerns over global demand trends and margin pressures.
Market breadth remained strongly positive, with advancing stocks significantly outnumbering decliners, highlighting widespread participation across segments. Midcap and smallcap indices also outperformed large caps, each gaining close to 1%, reflecting strong risk appetite among investors.
Sector-wise, autos, banking, financial services, FMCG, and infrastructure indices traded firmly in the green, while IT and pharma were the only notable sectors in the red. This divergence underscored a clear shift in momentum towards domestic cyclicals.
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