Mumbai: Indian stock markets ended higher for the second day in a row on Friday, backed by strong buying in metal stocks and support from global market gains. The Sensex and Nifty both saw gains, continuing the upward trend seen earlier in the week.
Sensex and Nifty Extend Gains
The BSE Sensex rose by 223.86 points or 0.28 percent to close at 81,207.17. During the session, it touched a high of 81,251.99 and a low of 80,649.57, swinging more than 600 points throughout the day. The NSE Nifty also moved up by 57.95 points or 0.23 percent to end at 24,894.25.
Metal Stocks Take the Spotlight
Metal stocks were the top performers of the day. The BSE Metal index jumped by 1.85 percent. Companies like Lloyds Metals & Energy gained 6.18 percent, National Aluminium Company rose by 3.10 percent, and Jindal Stainless was up 2.87 percent. Among Sensex companies, Tata Steel led the rally with a 3.40 percent jump, followed by Power Grid, Axis Bank, and Kotak Mahindra Bank.
Mixed Performance in Other Sectors
Some companies like Tech Mahindra, Maruti Suzuki, UltraTech Cement, and Bajaj Finserv saw losses during the session, acting as drags on the otherwise positive market mood.
Global Markets Provide Support
Global market sentiment also helped the rally. Japan’s Nikkei 225 closed higher, and European stocks were trading in the green. US markets also closed positively on Thursday. Meanwhile, Brent crude oil prices rose by 0.86 percent to $64.61 a barrel.
Investor Activity
According to exchange data, FIIs sold stocks worth Rs 1,605.20 crore, while DIIs were net buyers with Rs 2,916.14 crore worth of purchases.
