Final Trade: Sensex gains over 250 points; Nifty tops 23,800 led by auto and financial

Indian equity benchmarks rallied on Friday, supported by gains in auto and financial stocks, as market participants looked past global concerns. The BSE Sensex gained 250 points, or 0.59 per cent, to close at 78,945, while the Nifty 50 advanced 0.61 per cent to settle at 23,897.

Auto sector drives gains

The Nifty Auto index emerged as the top sectoral performer, rising 1.29 per cent. Leading the charge were stocks like Bajaj Auto, Hero MotoCorp, M&M, and Tata Motors, which posted gains of one per cent to 2.5 per cent. Analysts cited improving demand trends and positive commentary from automakers for the sector's robust performance.

Cochin Shipyard also captured investor attention, hitting the five per cent upper circuit after securing a significant order from the Adani Group.

Financial stocks shine

Financial stocks added to the market's momentum, with the sectoral index climbing 0.6 per cent. IndusInd Bank stood out, rising 2.4 per cent to hit an intraday high of Rs 954.70. The surge followed reports that the bank is looking to sell Rs 1,573 crore worth of microfinance loans, signalling efforts to optimize its asset portfolio.

Broader markets remain steady

BSE midcap and smallcap indices maintained stability, with no major movement during the session. However, positive sentiment spilt over into select smallcap names as investors scouted for value opportunities.

Other market highlights

• The rupee recovered, gaining over 30 paise from its intraday low.

• India VIX, a measure of market volatility, cooled by nearly six per cent, reflecting a more confident outlook.

• Bitcoin fell 2.5 per cent, pulling other cryptocurrencies like Ethereum, XRP, and Solana lower by up to four per cent.

Outlook

Market experts suggest that while the rally was broad-based, auto and financials continue to show resilience due to sector-specific tailwinds. Investors remain cautiously optimistic, awaiting further clarity on domestic macroeconomic indicators.

With major indices breaking key levels, the focus will now shift to corporate earnings and policy cues in the coming weeks.