Closing Bell: Indian markets bounce back; Nifty ends above 17,800, Sensex gains nearly 150 points

Amid volatility, the Indian markets closed in the green on the last trading session of the week on Friday. The benchmark indices ended on the positive side four out of five sessions this week. The broader Nifty ended above 17,800, while the Sensex gained 143 points. Domestic equity benchmarks Nifty50 and the S&P BSE Sensex closed at 17,812.70 and 59,744.65 respectively on Friday.   

All broader market indices, except for Nifty Small cap, ended in the green on the last trading day of the week. Nifty Small Cap 50 ended 0.15% lower on Friday. Nifty Bank ended 249.35 points or 0.67% higher to 37,739.60 as banking stocks remained in focus on Friday

Grasim, ONGC, Hindalco, Shree Cement, HDFC Life, Asian Paints, Nestle India, Ultratech cement, TCS, Wipro and ICICI Bank were among those gained the most on Friday. Bajaj Finserv, Mahindra and Mahindra, Bajaj Finance, Larsen & Toubro, Titan and HDFC were among the losers on Friday.  

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Meanwhile, India is likely to overtake Japan as Asia's second-largest economy by 2030 when its GDP is also projected to surpass that of Germany and the UK to rank as world's No.3, PTI said quoting IHS Markit report on Friday. 

Currently, India is the sixth-largest economy in the world, behind the US, China, Japan, Germany and the United Kingdom. 

"India's nominal GDP measured in USD terms is forecast to rise from USD 2.7 trillion in 2021 to USD 8.4 trillion by 2030," IHS Markit Ltd said. "This rapid pace of economic expansion would result in the size of Indian GDP exceeding Japanese GDP by 2030, making India the second-largest economy in the Asia-Pacific region."