Sensex and Nifty Close Higher as Banking Stocks and Global Cues Boost Markets

Indian stock markets closed higher on Friday, supported by continued buying in leading banking stocks and positive global market trends.

Investor sentiment also improved due to hopes of progress in peace talks between the United States and Iran, which contributed to the market’s upward movement.

The 30-share BSE Sensex rose sharply by 627.61 points during morning trade to touch 75,810.97. Later, the index settled 231.99 points higher at 75,415.35.

Meanwhile, the 50-share Nifty index gained 64.60 points to close at 23,719.30.

Among the 30 Sensex stocks, major gainers included Trent, Axis Bank, ICICI Bank, Asian Paints, Hindustan Unilever, HDFC Bank, Kotak Mahindra Bank, and Bajaj Finance.

On the other hand, shares of Sun Pharma, ITC, Power Grid, and Bharat Electronics ended lower.

Market experts stated that investor interest in buying stocks at lower levels, along with positive global cues linked to easing tensions in the Middle East, helped domestic markets trade with moderate gains.

Globally, the ongoing investment momentum surrounding artificial intelligence-related sectors continued to remain a key market driver. Domestically, financial sector stocks led the rally and provided major support to benchmark indices.

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite Index, and Hong Kong’s Hang Seng Index all ended the session in positive territory.

European markets were also trading higher, while US markets had closed with gains on Thursday.

According to stock exchange data, foreign institutional investors sold shares worth Rs 1,891.21 crore during the session.

Meanwhile, global crude oil prices rose 2.3%, with Brent crude trading at around 104.7 US dollars per barrel.