Mumbai: Indian equity benchmarks staged a recovery on Friday, September 25, as value buying in banking, automobile and consumer durables shares helped markets rebound from the previous session’s steep sell-off.
The BSE Sensex gained 315.20 points, or 0.43 per cent, to close at 73,895.74. During the session, the index moved between 73,477.77 and 73,968.05.
The NSE Nifty advanced 77.40 points, or 0.34 per cent, to settle at 23,140.50. Of its constituents, 34 advanced, 15 declined and one ended unchanged.
Axis Bank, M&M Lead Gains
Axis Bank emerged as the biggest Sensex gainer, climbing 2.82 per cent, followed by Mahindra & Mahindra, which rose 2.24 per cent. Asian Paints gained 1.93 per cent, while Bajaj Finance, HCL Tech and Titan advanced more than 1 per cent each.
Trent fell 1.41 per cent and was the biggest laggard. Infosys, Kotak Mahindra Bank, ICICI Bank and Tata Steel also closed lower.
Consumer Durables gained 1.14 per cent and Auto rose 0.95 per cent. Realty, Power, Industrials and Utilities also finished higher.
Broader Markets Mixed
The broader market remained mixed. The BSE SmallCap Select index edged up 0.11 per cent, while the MidCap Select index declined 0.62 per cent.
Analysts attributed the recovery to selective bargain hunting after Thursday’s steep correction, while softer crude prices provided some relief. Brent crude declined 1.10 per cent to $105.4 per barrel.
However, elevated global bond yields and continued foreign investor selling remained key concerns. FIIs sold equities worth ₹5,027.36 crore on Thursday.
Markets End Week Lower
Despite Friday’s rebound, benchmarks finished the week in negative territory. The Sensex declined 399.22 points, or 0.53 per cent, while the Nifty lost 205.90 points, or 0.88 per cent.
On Thursday, the Sensex had plunged 1,247.71 points, while the Nifty tumbled 383.70 points.
