Mumbai: Indian equity markets ended on a mixed note on Friday after benchmark indices traded in a narrow range through the session.
The Sensex slipped 19.63 points, or 0.03 per cent, to close at 74,294.96, while the Nifty gained 75.80 points, or 0.33 per cent, to settle at 23,346.40.
Commenting on Nifty technical outlook, experts said that on the technical front, the Nifty closed above 23,300 for the first time in the current recovery attempt.
“Sustaining above this level could extend the rebound towards 23,500–23,600, while support is placed at 23,200 and 23,000,” market watchers said.
“The improving technical structure and softer crude prices could support further recovery next week, but confirmation will require the Nifty to sustain above 23,300 with broader market participation,” experts noted.
Buying interest was seen in select heavyweight stocks, with Adani Ports and Special Economic Zone, Adani Enterprises and Bharti Airtel emerging as the top gainers on the Nifty.
The broader market outperformed the benchmark indices, with the Nifty MidCap index rising 1.24 per cent and the Nifty SmallCap index advancing 1.74 per cent.
Among sectoral indices, Nifty Metal, Nifty Realty, Nifty Oil and Gas, Nifty Cement and Nifty Chemical were among the key outperformers. In contrast, the Nifty IT index witnessed the sharpest decline during the session.
Experts said that the market remained range-bound at the benchmark level, while stronger gains in mid- and small-cap stocks supported broader market sentiment.
“Indian equities extended their recovery as moderation in crude and global yields improved risk appetite, despite concerns around the continued geopolitical uncertainty,” experts stated.
“Investor sentiment was further supported by positive global cues following largely anticipated policy actions from major central banks,” analysts mentioned.
(IANS)
