Indian Markets Extend Winning Streak as Financials, Metals Lift Nifty and Sensex; Weekly Gains Near 2%

The Nifty 50 climbed 0.35 per cent to settle at 25,637.8, while the BSE Sensex added 0.36 per cent to close at 84,058.9.

Indian equity benchmarks ended Friday’s session on a positive note, driven by gains in financial and metal stocks, as global sentiment turned upbeat amid easing geopolitical tensions and encouraging trade developments. The Nifty 50 climbed 0.35 per cent to settle at 25,637.8, while the BSE Sensex added 0.36 per cent to close at 84,058.9.

This marked the fourth consecutive day of gains for both indices, supported by news of a ceasefire between Israel and Iran, which contributed to a decline in oil prices. Both benchmarks are now within 2.5 per cent of their record highs touched on September 27, 2024.

Asian markets also saw gains, bolstered by a U.S.-China agreement to expedite rare earth shipments—an indication of easing trade strains between the two nations.

Over the week, both the Nifty and Sensex advanced around 2 per cent, with major support from heavyweights like HDFC Bank and Reliance Industries. Sector-wise, 11 of 13 key indices moved higher. Financials gained 2.6 per cent, lifted by HDFC Bank amid expectations of lower funding costs and robust GDP growth. Sentiment also improved due to buzz around the potential listing of HDB Financial Services.

The metals sector led the rally with a 4.8 per cent weekly gain, helped by a weakening U.S. dollar, which made dollar-priced commodities more attractive globally. Meanwhile, Small-Cap and Mid-Cap indices rose 4.3 per cent and 2.4 per cent respectively.

On the stock-specific front, Jio Financial Services surged 3.5 per cent on Friday and gained nearly 10 per cent for the week after receiving the green light for launching its stock broking arm.

Disclaimer: The article is for informational purposes only and not investment advice.