Mumbai, Oct 30: Indian equity markets closed higher on Friday, with the Sensex and Nifty gaining around half a per cent as strong buying in information technology and pharmaceutical stocks supported benchmark indices. However, weakness across several other sectors and subdued broader-market participation limited the overall gains.
The BSE Sensex rose 308.49 points, or 0.42 per cent, to settle at 74,459.53. The NSE Nifty 50 advanced 116.35 points, or 0.51 per cent, to close at 23,053.10.
IT stocks emerged as the strongest performers during the session. The Nifty IT index climbed 2.16 per cent, while the Nifty Pharma index gained 1.67 per cent. The Nifty Healthcare index also advanced 1.59 per cent, reflecting continued investor interest in technology and healthcare-related shares.
Among individual stocks, Trent, IndiGo, Infosys, Sun Pharma and HCL Technologies were among the notable gainers. On the other hand, Shriram Finance, Adani Ports, Mahindra & Mahindra, Adani Enterprises, Nestle India and State Bank of India featured among the major losers.
The broader market presented a weaker picture, with several sectoral indices ending in negative territory. Nifty Media declined 1.58 per cent, followed by Nifty PSU Bank, which fell 1.15 per cent. Nifty Realty slipped 0.93 per cent, while Auto, Metal and FMCG stocks also faced selling pressure.
Investor sentiment remained cautious amid concerns over elevated crude oil prices and geopolitical tensions in the Middle East. Brent crude was trading around the $113-per-barrel mark, keeping attention on India’s import bill, inflation outlook and currency stability.
Currency movements and global bond yields also remained important factors for investors. The rupee strengthened slightly against the US dollar during the session, while softer US bond yields and a weaker dollar provided some support. However, foreign investor selling and uncertainty around global developments continued to weigh on market confidence.
Asian markets largely ended lower, adding to the cautious mood. Japan’s Nikkei 225, South Korea’s KOSPI and Taiwan’s benchmark index recorded losses, while Hong Kong’s Hang Seng closed higher.
Overall, Friday’s session reflected selective buying rather than a broad-based market rally. Strong performance in IT and pharmaceutical stocks helped the benchmark indices finish in positive territory, but continued weakness in other sectors indicated that investors remained cautious about the near-term market outlook.