Daijiworld Media Network - Mumbai

Mumbai, Dec 19: Indian stock markets closed Friday with notable gains, buoyed by robust buying in heavyweight stocks, a strong debut of ICICI Prudential AMC, and a recovery in the Indian rupee.

The Sensex opened with a positive gap of around 275 points and maintained an upward trajectory throughout the session. It touched an intra-day high of 85,067.50 before settling 447.55 points higher at 84,929, a 0.5% gain. The Nifty mirrored this trend, rising 151 points to finish at 25,966 after hitting a peak of 25,993 during the day.

Market analysts highlighted a possible “Santa rally” in the coming week, suggesting the Nifty could test the 26,200 level, while support is expected near 25,700.

Among the Sensex heavyweights, Bharat Electronics, Power Grid Corporation, and Tata Motors Passenger Vehicles emerged as top gainers, each climbing over 2%. Shares of Asian Paints, Larsen & Toubro, Bajaj Finance, Bajaj Finserv, and Infosys also advanced roughly 1% each. On the other hand, HCL Technologies fell about 1%, with Kotak Mahindra Bank, ICICI Bank, and TCS closing in negative territory.

The broader market outperformed benchmarks, with BSE MidCap and SmallCap indices surging around 1.3% each. Market breadth remained healthy, with nearly two stocks rising for every one that declined on the BSE.

The Indian rupee also strengthened, ending at 89.25 against the US dollar following a late-session rally, further boosting investor sentiment. Analysts cautioned that while market sentiment remains positive, near-term volatility could persist due to uncertainties surrounding trade deal timelines and upcoming macroeconomic data.