Nifty ends at near one-month high as pharma, financial stocks lift markets

The share market extended gains for a second straight session on Friday to close at their highest level in nearly a month, led by buying in pharmaceutical and financial stocks, while sentiment remained upbeat following a strong week for broader indices.

The NSE Nifty 50 rose 104 points, or 0.41%, to 25,285, after crossing the 25,300 mark during the session. The S&P BSE Sensex advanced 329 points to 82,501. The Nifty Bank index added 418 points to 56,610, while the Nifty Midcap index gained 268 points to end at 58,697. Market breadth was positive, with the advance-decline ratio at 3:2.

For the week, the stock market posted its biggest weekly gain in three months, rising for a second consecutive week. All four frontline indices advanced nearly 2%, led by the capital markets and IT sectors, which climbed 5% each.

Pharma stocks led the rally after the US Senate cleared the Biosecure Act, a move seen as favourable for Indian drugmakers. Divi’s Laboratories surged 6%, while Laurus Labs and Syngene International rose between 2-4%. Natco Pharma jumped 4% after the Delhi High Court allowed the company to sell spinal muscular atrophy drug Risdiplam in India.

Capital market-linked stocks extended their advance, with BSE and CDSL gaining 2-3%. Realty shares also rose on expectations of strong quarterly earnings, with Godrej Properties up 3%.

Among individual movers, Gokaldas Exports rallied 7% after commentary from Prime Minister Narendra Modi and US Treasury Secretary Janet Yellen highlighted India’s growing role in global supply chains. NTPC Green Energy climbed 3% after signing a memorandum of understanding with the Gujarat government to develop solar parks.

In the auto space, Maruti Suzuki, Bajaj Auto, and Eicher Motors gained 1-2% following strong vehicle registration data. However, IT stocks underperformed, with Tata Consultancy Services and Tata Elxsi falling 1-3% after their September-quarter results disappointed investors.

Metal stocks also declined as the dollar index strengthened, with Hindustan Copper and SAIL among the top losers. Gold financiers such as Manappuram Finance slipped 3% tracking a fall in gold prices.

Thirty-five of the 50 Nifty stocks ended the week higher. Max Healthcare, HCLTech, Eternal, and Infosys were among the top gainers, while Tata Motors, Trent, HDFC Life, and Adani Enterprises lagged. In the midcap segment, BSE, PG Electroplast, Nykaa, Divi’s Labs, and Yes Bank featured among the top performers.