The Indian stock market posted strong gains on Friday as the Sensex and Nifty each rose more than 1 percent. The Sensex climbed 964 points to finish at 78,151, while the Nifty 50 advanced 262 points to close at 24,334. The advance occurred even as global markets declined and broader domestic indices eased slightly. Analysts noted a shift in momentum toward large-cap stocks, particularly in information technology and banking, supported by expectations for first-quarter results. Domestic institutions appeared to move funds from higher-valued mid- and small-cap shares into large caps offering improved risk-reward balance. Buying interest also emerged in consumer durables on hopes of stronger demand in the second half of the fiscal year. Globally, technology stocks fell, pulling major U.S. indices lower. The S&P 500 dropped 1 percent, the Dow Jones Industrial Average lost 406 points, and the Nasdaq composite declined 1.4 percent. In Europe, the STOXX 600 index eased 0.34 percent. On the NSE, shares of Kalyan Jewellers, Reliance Industries, Jio Financial Services, BHEL, Tech Mahindra, ICICI Bank and Federal Bank recorded the highest value turnover. Stocks with the largest volumes included Vodafone Idea, Suzlon Energy and Jio Financial Services. Several companies reached 52-week highs, while others such as Vedanta touched new lows. Of 3,419 stocks traded, 1,312 advanced and 2,004 declined.
