The Indian stock market extended gains on Friday as the Sensex and Nifty each rose more than 0.3 percent. Support came from easing Middle East tensions and lower expectations for Federal Reserve rate hikes. The Sensex added about 262 points to finish at 77,764, while the Nifty 50 gained over 95 points to close above 24,270. Total market capitalisation on the BSE increased by nearly Rs 44,155 crore to reach Rs 480 lakh crore. Domestic markets ended higher despite some volatility and profit booking, helped by favourable global signals and expectations of easier global monetary policy after softer US jobs data. Sentiment also improved following positive results from the India-Japan Summit and continued recovery in the IT sector. Lower crude oil prices provided additional support for the inflation outlook and economic stability. Attention now turns to the Q1FY27 earnings season and management commentary, especially with a widening monsoon deficit. Markets are expected to stay in a buy-on-dips mode, with earnings quality and global developments, including progress on the US-India FTA, remaining key factors to watch. Nifty recorded a consolidation breakout on the daily chart, signalling better sentiment, and stayed above the 50-day EMA. The RSI showed a bullish crossover. The index could move toward 24,500, with immediate support at 24,200 and stronger support near 24,000. Policy Bazaar, Zensar Tech, CG Power, ABB Power, HDFC Bank, ICICI Bank and GE T&D India led activity by value on the NSE. Vodafone Idea, Ola Electric Mobility, Yes Bank, Suzlon Energy and others topped the volume list. Stocks including Sumitomo Chemical and Zensar Tech saw strong buying interest. Several companies such as Aurobindo Pharma and Oberoi Realty hit 52-week highs, while GE T&D India and ABB Power faced selling pressure. Out of 3,436 stocks traded on the NSE, 1,823 advanced, 1,513 declined and 100 were unchanged.
