Indian equity markets closed the week with meaningful gains on Friday, driven by strong showings in Real Estate, Banking and Consumer Durables sectors.
At the close of trading on the National Stock Exchange, the Nifty 50 was up 1.99%. On the Bombay Stock Exchange, the BSE Sensex 30 finished the session higher by 2.30%.
Top and bottom movers
Among constituents of the Nifty 50, Shriram Finance Ltd. (NSE:SHMF) posted the largest gain, finishing up 7.98% or 70.75 points at 957.00. Bajaj Finance Ltd (NSE:BJFN) rallied 5.59% or 48.65 points to close at 919.20, while Larsen & Toubro Ltd (NSE:LART) rose 4.87% or 188.00 points to end at 4,050.00.
On the downside, Nestle India Ltd (NSE:NEST) was the weakest in the Nifty 50, slipping 3.23% or 46.00 points to 1,376.50. Oil And Natural Gas Corporation Ltd (NSE:ONGC) declined 2.26% or 5.70 points to 246.90, and Tech Mahindra Ltd (NSE:TEML) fell 2.20% or 32.20 points to 1,432.90 at the close.
BSE Sensex movers
On the Sensex 30, Bajaj Finance Ltd (BO:BJFN) led gains, rising 5.62% to 919.20. Larsen & Toubro Ltd (BO:LART) added 4.86% to settle at 4,047.15, and Tata Motors Passenger Vehicles Ltd (BO:TAMO) climbed 4.22% to close at 391.65.
The weakest names on the Sensex were Nestle India Ltd (BO:NEST), down 3.15% to 1,377.00, Tech Mahindra Ltd (BO:TEML), which lost 2.24% to end at 1,432.00, and Power Grid Corporation of India Ltd (BO:PGRD), which declined 0.58% to 285.00 at the close.
Market breadth and volatility
Advancing issues outnumbered decliners across both exchanges. On the National Stock Exchange, 2,119 stocks rose, 411 declined and 45 finished unchanged. On the Bombay Stock Exchange, 3,018 shares advanced, 978 fell and 150 were unchanged.
Volatility, as measured by the India VIX, eased notably. The India VIX fell 5.19% to 14.80, marking a new three-month low for implied volatility on Nifty 50 options.
Commodities, currencies and indices
Precious metals and energy prices moved in different directions. Gold Futures for August delivery rose 2.77% or 113.97 to $4,227.97 a troy ounce. In energy markets, crude oil for July delivery fell 3.14% or 2.75 to $84.96 a barrel, while the August Brent oil contract declined 3.02% or 2.73 to $87.65 a barrel.
In currency markets, the rupee strengthened against the US dollar and the euro. USD/INR was down 0.78% at 95.01, and EUR/INR fell 0.73% to 110.08. The US Dollar Index Futures was down 0.10% at 99.75.
What this means near term
The session reflected broad-based buying interest across several sectors, with large-cap financials and industrials among the primary contributors to the advance. The drop in the India VIX indicates reduced near-term option-implied uncertainty for the Nifty 50. Commodity moves were mixed, with gold recording gains while crude oil prices declined.
All data, price movements and percentage changes cited are those reported at the close of trading on Friday.