Indian equities ended with gains on Friday, led by strong buying action in consumer and metal stocks, though IT stocks were under pressure due to lower-than-estimated Q4FY26 earnings. Nifty surged 156.80 points or 0.65% to finish at 24,353.55, while the BSE Sensex rose 292.80 points or 0.38% to settle at 78,111.24.
Nilesh Jain, Vice President and Head of Technical and Derivative Research at Centrum Finverse, noted the immediate hurdle at the 50-DMA around 24,410, with a decisive breakout above this level potentially paving the way for an upside move towards 24,700. The overall structure remains positive, favoring a buy-on-dips approach, with support shifting higher to around 24,000.
Ajit Mishra, Senior Vice President, Research at Religare Broking, stated that the index is approaching key moving averages in the 24,600–24,800 zone, with sustained strength above this band opening room for further upside towards 25,200. In case of profit booking or consolidation, the 23,700–24,000 zone is likely to provide strong support.
Heavyweights like HDFC Bank, Reliance Industries, and Hindustan Unilever aided the markets, with 2,999 stocks advancing, 1,327 declining, and 167 remaining unchanged out of 4,493 stocks traded on the BSE.
