The Indian stock market displayed a mixed performance on Friday, buoyed by shares from prominent companies such as ICICI Bank and Bharti Airtel amidst varied global trends ahead of a key speech from the U.S. Federal Reserve Chairman. The BSE Sensex, which tracks 30 of the largest companies listed on the Bombay Stock Exchange, gained 33.02 points, closing at 81,086.21 points, marking its fourth consecutive session of growth.
Initially, the Sensex dipped 169.93 points to a low of 80,883.26 points, but later surged by 178.3 points to reach a high of 81,231.49 points before ultimately losing some of its gains by market close. Meanwhile, the National Stock Exchange’s Nifty index rose by 11.65 points, or 0.05%, closing at 24,823.15 points, reflecting an uptrend for the seventh straight session.
Companies Impacting the Sensex
Among the gainers on the Sensex were Tata Motors, Sun Pharmaceuticals, Bharti Airtel, Bajaj Finserv, ICICI Bank, Mahindra & Mahindra, and JSW Steel. On the other hand, stocks such as Tech Mahindra, HCL Technologies, Asian Paints, Titan, Infosys, State Bank of India, Tata Consultancy Services, and HDFC Bank saw declines.
Market Sentiment and Key Factors
Vinod Nair, the head of research at Geojit Financial Services, mentioned that the Indian indices were fluctuating around flat levels, affected by mixed global market sentiments as investors remain cautious ahead of Jerome Powell’s speech regarding interest rate policies. Investors are keenly awaiting the signals from Powell that could illuminate the Federal Reserve’s economic strategies.
Global Market Insights
Across other Asian markets, the trends were mixed, while European markets were trading positively. The U.S. stock markets, however, continued to exhibit weaknesses, closing lower on Thursday. Notably, foreign institutional investors (FIIs) purchased shares worth ₹1,371.79 crore on Thursday, whereas domestic institutional investors (DIIs) were more aggressive, buying shares worth ₹2,971.80 crore.
Commodity Prices and Future Expectations
The global oil benchmark, Brent Crude, increased by 1.01%, reaching $78 per barrel. The BSE Sensex had gained 147.89 points to close at 81,053.19 points on Thursday, while the Nifty rose by 41.30 points, hitting a two-week high at 24,811.50 points. Observers believe that the trends in the U.S. markets will significantly influence whether the Indian markets experience a bullish trend or further selling pressure in the coming week.
Market Performance Overview
| Index | Closing Points | Change | Trend |
|---|---|---|---|
| BSE Sensex | 81,086.21 | +33.02 | Up |
| NSE Nifty | 24,823.15 | +11.65 | Up |
Conclusion
The Indian stock market’s performance amid global uncertainties showcases the market’s resilience and adaptability. Investors remain on edge, ready to react to the upcoming insights from the U.S. Federal Reserve, which could sway market dynamics significantly.
