Indian equities closed the week higher, supported by buying in banking, IT, and pharma stocks. Investors’ sentiment remained strong, particularly in the banking sector.
The Reserve Bank of India’s decision to keep the repo rate unchanged at 5.5 per cent boosted banking stocks. Sentiment improved further after the government invited private sector professionals to lead the State Bank of India.
Pharma stocks gained momentum after the US announced no tariffs on generic drugs and signaled reducing biotech ties with flagged foreign firms, especially from China. Analysts said this revived the Biosecure Act, benefiting Indian CDMOs amid ongoing earnings season.
On Friday, Sensex rose 329 points to 82,501, while Nifty gained 104 points to 25,285. Bank Nifty, Nifty IT, and Nifty Pharma led the rally. Weekly gains were notable, with Nifty up 391 points (1.57 per cent) and Sensex rising over 1,000 points (1.35 per cent). Analysts noted a “cup and handle” pattern, suggesting potential for further upside if volumes remain strong.
