Market Update at 03:52 PM
Friday’s session had a clear narrative — resilience with selective caution. Despite a soft start, Indian markets steadily climbed higher, supported by easing crude oil prices and improving sentiment.
The Sensex gained 504.86 points (+0.65%) to close at 78,493.54, while the Nifty 50 rose 165 points (+0.68%) to settle at 24,361.75 — comfortably holding above the crucial 24,300 mark and reclaiming its 50-DEMA. The Bank Nifty outperformed once again, advancing 0.85% to close at 56,565.70, signaling continued strength in financials.
The early dip was quickly bought into, showing that dips are being treated as opportunities rather than threats — a subtle but important shift in market behavior.
What Drove the Markets Today?
Cooling crude oil remained the biggest tailwind. With Brent hovering around USD 98.5 and WTI near USD 89.1, fears around inflation and macro pressure eased slightly. Optimism around reduced disruptions in the Strait of Hormuz added further comfort to global sentiment.
At the same time, volatility cooled off meaningfully. India VIX dropped to 17.17 from 20.5 earlier this week — a sharp fall that reflects rising investor confidence and stability.
Sector Watch: FMCG Shines, IT Pauses
Sectoral breadth remained strong with 10 out of 11 indices closing in the green.
FMCG stocks stole the spotlight, rallying 2.65% and extending their winning streak for the third session — a clear sign of defensive buying and consumption resilience.
On the flip side, IT remained under pressure, slipping marginally after disappointing earnings from Wipro and HDFC Life, capping the market’s upside.
Broader Markets: Profit Booking Kicks In
While frontline indices held firm, broader markets saw some cooling:
- Midcaps declined 1.27%
- Smallcaps fell 1.48%
This divergence suggests selective profit booking after the recent sharp rally, rather than a structural weakness.
Stock-Specific Highlights
Waaree Renewable Technologies surged over 5% after posting a strong 66% jump in Q4 profit.
VST Industries rallied nearly 10% on stellar earnings and a generous dividend announcement.
Kalyan Jewellers slipped around 3% amid concerns over banking restrictions on gold and silver imports.
Market Breadth & Internals
The underlying strength of the market remained impressive:
- 2,364 stocks advanced vs 894 declines
- 126 stocks hit 52-week highs
- Only 5 stocks touched 52-week lows
- 144 stocks locked in upper circuits
This clearly indicates that the broader participation remains intact despite minor corrections.
Power Sector – Momentum Continues ⚡
The power and capital goods space continues to outperform aggressively, with stocks rallying 10–30% over the past two weeks. Strong demand visibility, infrastructure push, and capex revival remain key drivers.
We reiterate our positive stance on:
- Thermax
- Siemens
- Cummins India
- CESC
- Suzlon
- KEC International
This theme still has legs and remains one of the strongest structural plays in the current market.
What This Means for Investors
- Buy-on-dips strategy continues to work — trend remains firmly bullish
- Shift focus toward domestic-facing sectors like FMCG and power
- Be cautious in IT in the near term due to earnings pressure
- Expect volatility in mid/small caps after recent sharp outperformance
Markets are no longer just reacting — they are absorbing shocks and moving higher. That’s a sign of strength.
For key levels and next week’s strategy, watch our latest breakdown on YouTube.
Angeeras Securities 