Indian Stock Market Holds Steady: Smallcap Stocks Surge in Latest Rally – Insights from INDIA New England News

Mumbai– The Indian stock market experienced a rollercoaster week, filled with ups and downs. On Friday, benchmark indices managed to stay in the green, showing signs of recovery.

Metal stocks helped support the market, while smallcap stocks continued their impressive run. After two days of gains, the market closed positively.

The Sensex ended at 74,332.58, just slightly down by 7.51 points or 0.01%. During the day, it fluctuated between a high of 74,586.43 and a low of 74,038.03.

The Nifty closed at 22,552.50, gaining 7.80 points or 0.03%. It reached a high of 22,633.80 but dropped to a low of 22,464.75 during trading.

Initially, both indices opened weaker but rebounded thanks to buying interest in well-known stocks like Tata Motors.

Oil and gas shares also aided the recovery, and the broader market performed well. The smallcap index climbed 1.1%, marking its fourth consecutive day of gains.

According to Krishna Appala from Capitalmind Research, “Today’s market strength was fueled by a broad recovery. The Nifty 50 stabilized near fair valuations, while mid and small-caps showed continued buying interest after recent downturns.”

He added that the sustainability of this rally will depend on earnings recovery and overall market sentiment.

Key gainers in the Nifty included Tata Motors, Bharat Electronics, Nestle India, and Bajaj Auto. However, some IT and banking stocks, like IndusInd Bank and Infosys, faced selling pressure.

The Nifty Smallcap100 index saw continued growth, closing 0.67% higher, while the Nifty Midcap100 index fell by 0.32%.

Sector performance varied on the NSE. Indices for Auto, PSU Bank, Metal, Media, and Oil & Gas improved by as much as 1.83%, while other sectors remained steady.

In the last week, the Nifty rose by 2.1%. Meanwhile, the Nifty Midcap 100 and Nifty Smallcap 250 saw significant jumps of 2.9% and 5.8%, respectively.

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