Mumbai (Maharashtra): Indian stock markets experienced a slight gain during Friday’s session following a slump in stock indices on Thursday.
The Nifty 50 index rose by 0.44 percent to close at 22,055, while the Sensex gained 260.3 points to close at 72,664.47. With the exception of the IT, Realty, PSU Bank, and Bank sectors, all other sectoral indices recorded gains. The Metal, Oil & Gas, FMCG, and Auto sectors led the upward trend.
In the Nifty 50 list, BPCL, Power Grid, NTPC, Hero Motocorp, and Eicher Motors emerged as the top gainers, while TCS, Cipla, LTIM, Kotak Bank, and Infosys were among the top losers. According to market statistics from the NSE, a total of 2,703 stocks traded on the exchange, with 1,660 closing in the green, 926 declining, and 117 remaining unchanged.
The broader market indices closed in the green during Friday’s session, with Nifty Midcap 50 and Nifty Midcap Select emerging as notable gainers after gaining more than 1 percent.
Foreign portfolio investors (FPIs) have turned net sellers in Indian stocks lately, with NSDL data showing cumulative sales worth Rs 8,671 crore in April and Rs 10,413 crore so far in May.
In the commodities market, oil prices extended gains for a third consecutive day, supported by key technical levels, while gold prices rose after a notable increase the previous day. WTI Crude oil futures extended gains amid optimism on Chinese and US demand, with Chinese crude oil imports increasing in April, signaling improving demand. Meanwhile, a surge in US weekly jobless claims bolstered expectations for Federal Reserve interest rate cuts this year.