Sensex, Nifty end week higher as financial stocks rally; IT shares see profit booking

Indian equity benchmarks finished the week higher on Friday, with financial stocks leading while IT shares saw profit booking. The BSE Sensex closed at 78,094.64 points, up 166.49 points (0.21%). The NSE Nifty 50 gained 66.45 points (0.27%) to end at 24,383.60. Vinod Nair of Geojit Investments said recovery momentum continued, but caution remained due to elevated yields and potential rate-hike concerns. He noted the domestic IT index pulled back after its recent rally. Financial and auto stocks drove gains, including Bajaj Finance (+8.32%), Bajaj Finserv (+6.37%) and Jio Financial Services (+3.71%); Mahindra & Mahindra, Shriram Finance and Tata Motors Passenger Vehicles also ended higher. Nair attributed pressure on tech stocks to a rebound in global chipmakers and easing AI-valuation worries, shifting sentiment away from domestic technology. Asian markets were mostly higher, with Japan’s Nikkei 225 rising 3.92% and Taiwan’s Weighted up 7.39%, while the Straits Times fell 0.79%. Brent crude rose 0.52% to $87.33 per barrel and gold slipped 1.16% to $4,055.78.