Bank Nifty saw a significant increase of over 2.5% on Friday, outperforming the 1.6% rise of Nifty.
Largecaps dominated the market performance on Friday, with ICICI Bank Ltd leading the index gain with a 3.3% increase, and Tata Steel showing the largest rise at 6.5%, according to Devarsh Vakil, Deputy Head of Retail Research at HDFC Securities.
Following Thursday’s bounce back from lower levels, Nifty continued its upward trend on Friday, closing at a new all-time high of 22,339 with a gain of over 350 points.
Nifty Midcap 100 and Smallcap 100 indices underperformed Nifty, with gains of 0.94% and 0.52% respectively.
Advancing shares outnumbered declining shares, with an advance decline ratio of 1.62 on the BSE. Nifty Metals, Banks, and Auto sectors saw the most gains, while Nifty Media, Pharma, and IT ended in the red.
The strong GDP numbers gave a boost to the market, pushing Indian indices to new highs.
Indian equity markets will be open on Saturday as part of the business continuity plan and disaster recovery site for stock exchanges and depositories, involving an intraday shift from the primary to the disaster recovery site.
