Nifty opened 28 points higher on Friday, but its 77‑point climb to 23,140 left it 0.33% up for the day amid a 0.88% weekly slide, its seventh straight decline.
Top gainers included Axis Bank +1.2%, Asian Paints +0.9%, and M&M +1.0%; meanwhile, Max Healthcare fell 1.5%, Tata Motors Passenger Vehicles dropped 2.0%, and Infosys slid 1.8%. Sectorly, Consumer Durables +1.1%, Realty +1.4%, and Auto +0.9% led gains, while Healthcare –1.3%, Media –2.1%, and IT –1.5% lagged.
The Nifty Midcap 100 slipped 0.14%, trading near 4,210, whereas the Smallcap 100 edged up 0.15% to 3,520, reflecting a split in mid‑tier sentiment.
The rupee strengthened 15 paise to 95.81 against the dollar, aided by a 1.5% drop in Brent crude to $78.50, and driven by optimism around a potential US‑Iran ceasefire that could ease energy‑price pressure.
Nagaraj Shetti of HDFC Securities points out that a decisive break below 23,000 could trigger a slide toward 22,600, while a sustained move above 23,600 may shift the near‑term bias from ‘sell on rallies’ to neutral. Osho Krishan of Angel One flags 23,280‑23,350 as an immediate resistance hurdle, and 23,500‑23,550 as a critical ceiling.
On the macro front, markets remain sensitive to global bond yields, Fed commentary, and the Bank of Japan’s minutes. Crude‑oil volatility tied to Strait of Hormuz tensions could keep energy prices choppy, while any progress toward a phased reopening of the route may provide a short‑term lift for the Nifty.