PSU bank, auto stock gains lift Nifty above key 25,000 level

The Nifty 50 index closed above the 25,000 mark on Friday, lifted by broad-based buying across sectors despite escalating violence in the Middle East.

The Nifty rose 1.29% on Friday to close at 25,112, while the Sensex jumped 1,046 points to end at 82,408. Both the benchmark indices ended the week on a strong note, recovering losses from the previous week, as easing domestic concerns and selective buying helped offset global geopolitical tensions.

Rupak De, Senior Technical Analyst at LKP Securities, said, "Nifty moved up sharply after three days of consolidation, resuming its short-term rally. Moreover, the index has reclaimed the 21-day EMA, which could provide further momentum for an upward move. Support is now placed at 24,850, and the index remains a ‘buy on dips’ as long as it holds above this level. On the higher side, it may continue advancing towards 25,350 and beyond."

The Nifty index opened flat at 24,787 before briefly dipping to 24,783. It then surged through the session to hit an intraday high of 25,078, ending the day firmly in the green.

The Nifty Bank index added 675 points to settle at 56,253, and the broader Nifty Midcap 100 gained 836 points to end at 57,996. Friday’s rebound helped frontline indices log weekly gains of over 1% each, even as the midcap index slipped nearly 1% over the week.

HDFC Bank, Reliance Industries, ICICI Bank and Bharti Airtel were among the biggest contributors to the Nifty’s gains. Market breadth was strong with 44 of the 50 Nifty constituents closing in the green and an advance-decline ratio of 2:1.

Jio Financial climbed nearly 3% to top the Nifty gainers list, while Bharti Airtel also gained 3% to hit a record high amid sustained buying interest. IT stocks ended mostly higher ahead of Accenture’s earnings, and optimism around infrastructure lending led to gains in power financiers like REC, PFC, IREDA and HUDCO following RBI's easing of project financing norms.

Among autos, Mahindra & Mahindra rose 3%, while Hero MotoCorp and Bajaj Auto slipped over 1% each. Kaynes Technology rallied 4% after launching a qualified institutional placement (QIP), and MCX gained 4% on the back of increased commodity volumes.

On the downside, Muthoot Finance fell over 1% as gold prices recorded their first weekly loss this month. Sun TV slipped after Dayanidhi Maran issued a legal notice to Kalanithi Maran.

On the derivatives side, the market showed robust breadth with 186 stocks posting gains against 36 losers. Traders reported notable open interest additions in Kaynes Technology, Mankind Pharma, Hero MotoCorp, JSW Steel, and LTIMindtree, reflecting bullish sentiment.

Market analysts said the positive momentum and strong participation across segments point to sustained investor confidence.