Benchmark equity indices staged a strong rebound this week, recouping the previous week's losses as Brent crude oil prices declined 7% during the week to $89.95 a barrel. According to reports from The Financial Express, the Sensex surged 2,034.87 points, or 2.68%, to close at 78,094.64, marking its biggest weekly gain in four months since the week ended April 10. The Nifty advanced 616.15 points, or 2.59%, to settle at 24,383.60. In the previous week, the Sensex and Nifty had declined 2.68% and 2.33%, respectively.
Investors' wealth increased by ₹10.3 lakh crore during the week, including ₹2.76 lakh crore on Friday alone, taking the BSE's total market capitalisation to ₹485.97 lakh crore. As reported by The Financial Express, foreign portfolio investors bought shares worth ₹8,960 crore during the week, while domestic institutional investors were net buyers of ₹10,875 crore. The recovery was broad-based, though large-cap stocks outperformed the broader market. The BSE MidCap and BSE SmallCap indices gained 2.17% and 1.27%, respectively.
All sectoral indices ended the week in positive territory, with IT emerging as the top performer, rising 6.75%, followed by auto, pharma, healthcare and consumer durables. According to The Financial Express, Bajaj Finance, Infosys, Bajaj Finserv, Eternal and Mahindra & Mahindra were the top Sensex gainers, rising as much as 12.74% during the week. On the other hand, BEL, Adani Ports, Jio Financial Services, Power Grid and ITC were the biggest losers, falling up to 4.26%. As per Upstox Securities, 12 of 15 major sector gauges were trading higher, led by the NIFTY FMCG index's 1.6% gain.
Nifty extended gains in yesterday's session by closing 66 points higher at 24,317, building on the previous week's recovery. From last Friday's low of 23,606, the index has rallied 737 points and remains firmly above near-term averages, underscoring a strong uptrend. As per HDFC Securities, a sustained move above 24,368 could open the path toward the next resistance at 24,530, while the 24,040–24,140 band is expected to act as support on declines. The index's performance reflects broader market optimism following the crude oil decline and global tech rally.
