Closing Bell: Nifty reclaims 25,550 as banks shine; IT under pressure

Closing Bell: Indian equity benchmarks closed higher on Friday, with the Nifty regaining levels above 25,550 and holding on to its opening gains. The Sensex rose 317 points to 82,815, while the Nifty advanced 117 points to settle at 25,571.Nifty Bank added 432 points to close at 61,172, emerging as the day’s top sectoral performer. Over 35 Nifty stocks ended in the green, with Larsen & Toubro and Reliance Industries among the biggest contributors to the index gains.

However, Nifty IT remained under pressure. Persistent Systems, Tech Mahindraand Coforge were among the top losers, reflecting continued weakness in technology counters.
The broader market saw selective buying. The midcap index gained 286 points to 59,514, while market breadth remained neutral with the NSE advance-decline ratio at 1:1.
This week’s performanceFor the week, markets ended higher with all major indices closing in the green. Financials led the rally, with Nifty Bank rising nearly 2%, driven by gains in Punjab National Bank and Canara Bank. PSU banks and FMCG stocks emerged as the biggest outperformers, gaining between 2% and 5%.

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In contrast, Nifty IT remained the biggest underperformer and has fallen 17% over the past three weeks.

Among stock-specific movers, PB Fintech rose over 3% after an upgrade, ABB India gained nearly 5% post its quarterly results, while Novartis India hit the 20% upper circuit after its Swiss parent agreed to sell a 71% stake to a ChrysCapital-led consortium.