The Nifty 50 and Sensex posted weekly gains as overseas investors returned and earnings supported sentiment, while Brent near $117 a barrel and cautious central banks kept risks in focus.
Indian equities ended the week on firmer footing, with the Nifty 50 and Sensex recovering nearly 2 per cent as foreign investors returned to buying, bond yields eased and a run of domestic earnings reassured traders. The move capped a volatile stretch in which crude oil, global central bank caution and geopolitical tensions repeatedly tested sentiment, even as local markets found support from improving macro indicators and selective sector strength.
On Friday, the Nifty 50 climbed 0.51 per cent to 23,053.10, while the Sensex added 308.49 points, or 0.42 per cent, to 74,459.53, according to market data cited by NDTV Profit and the daily market close reported by Anand Rathi. Over the full week, the Nifty rose 2 per cent and the Sensex gained 1.83 per cent, helped by renewed foreign institutional inflows and steady domestic buying. Foreign institutions were net purchasers of shares worth Rs 6,304.67 crore during the week, while domestic institutions bought Rs 3,109.79 crore, according to the figures cited in the report.
The broader market outpaced the main benchmarks. Nifty Midcap 100 rose 2.69 per cent for the week, and Nifty Smallcap 100 advanced 4 per cent, reflecting wider participation in the rebound, even though the final session was more subdued. Pharma and healthcare led sector gains on the back of stronger earnings, while real estate benefited from softer bond yields. Metals, fast-moving consumer goods and autos also found support from hopes of easing input costs, but cement and oil and gas lagged. Analysts noted that the tone turned more cautious late in the week after renewed tensions in West Asia pushed crude higher and prompted some profit-taking.
The pressure from oil was a persistent backdrop. Brent crude traded near $117 a barrel, and Business Standard reported that the market’s geopolitical premium remained intact as disruption risks around regional infrastructure and shipping outweighed some signs of easing physical stress. That left investors watching the OPEC+ review for any signal of a supply response. The Federal Reserve, the European Central Bank and the Bank of Japan all left rates unchanged, but their warnings on inflation tempered hopes of an early pivot towards easier policy, keeping global risk appetite in check.
Looking ahead, traders will be focused on manufacturing and services purchasing managers’ index readings at home to gauge whether activity can stay resilient despite higher energy costs and tighter financial conditions. Overseas, US PMI data, jobs figures and the outcome of the midterm elections are likely to shape the next leg of global sentiment. Technically, the Nifty faces resistance in the 23,175 to 23,285 band, with support seen around 22,750 to 22,800, while Bank Nifty would need to close above 55,150 to strengthen the bullish case.
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