Sensex Rises Over 300 Points; Nifty Ends Above 25,600
(RTTNews) - Indian shares rose modestly on Friday, with underlying sentiment supported by a sharp fall in crude oil prices this week and a weakening dollar on hopes for more Fed rate cuts this year.
Both Brent and WTI contracts were on track for a weekly loss of about 12 percent, the most since March 2023, in the absence of significant supply disruption from the Middle East.
Steady foreign inflows and easing trade tensions also offered some support. U.S. President Donald Trump has announced a trade deal with China on rare earths and hinted at a major upcoming deal with India.
Confirming the reports, Beijing said Washington would lift "restrictive measures" while Beijing would "review and approve" items under export controls.
India's Commerce Minister Piyush Goyal and U.S. Commerce Secretary Howard Lutnick confirmed that both nations are negotiating a fair, balanced framework that could benefit businesses and consumers.
The benchmark S&P/BSE Sensex rose 303.03 points, or 0.36 percent, to 84,058.90, extending gains for a fourth consecutive session.
The broader NSE Nifty index closed up 88.80 points, or 0.35 percent, at 25,637.80 while the BSE mid-cap and small-cap indexes gained 0.4 percent and half a percent, respectively.
The market breadth was strong on the BSE, with 2,257 shares rising while 1,753 shares declined and 155 shares closed unchanged.
Among the prominent gainers, ICICI Bank, Power Grid Corp, UltraTech Cement and Asian Paints surged 2-3 percent.
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