Indian equity benchmarks closed higher for a second consecutive session on Friday, October 30, with the 30-share BSE Sensex climbing 308.49 points, or 0.42 per cent, to settle at 74,459.53 and the 50-share NSE Nifty rising 116.35 points, or 0.51 per cent, to end at 23,053.10, PTI reported.

Source: PTI

Markets had opened on a muted note amid weak global cues, escalating Middle East tensions and rising crude oil prices, but buyers regained control as the session progressed and the Nifty crossed the 23,100 mark intraday before settling above 23,000, Moneycontrol reported in its closing wrap. For the week, both the Sensex and the Nifty rose nearly 2 per cent each.

Source: Moneycontrol

74,459.53Sensex close (+308.49)
23,053.10Nifty close (+116.35)
+2.3%Nifty IT index
94.93Rupee vs US dollar (+33 paise, provisional)

IT and pharma lead; broader market lags

Trent, InterGlobe Aviation, HCL Technologies, Infosys and Sun Pharma were among the top Nifty gainers, while Adani Ports, Shriram Finance, Adani Enterprises, Mahindra & Mahindra and Coal India were among the losers, Moneycontrol reported. Trent surged about 5 per cent after strong earnings and InterGlobe Aviation rose about 4 per cent as its quarterly losses narrowed. The IT index gained 2.3 per cent and the pharma index 1.8 per cent, while the broader market underperformed — the midcap index fell about 0.8 per cent and the smallcap index about 1.8 per cent.

The rupee snapped its losing run and appreciated 33 paise to close at 94.93 (provisional) against the US dollar, supported by the positive trend in domestic markets and a softer dollar, though elevated crude prices capped sharp gains, PTI reported. The currency had opened at 95.21 and touched an intraday high of 94.94 and a low of 95.28; it had closed at 95.26 on Thursday.

Source: PTI

What analysts are watching next

Nagaraj Shetti, senior technical research analyst at HDFC Securities, told Moneycontrol that the Nifty is nearing an important overhead resistance around 23,200, so consolidation or a minor dip early next week is possible before any further rise, while a correction could find support around 22,800. Those are analyst views, not a market forecast.