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Indian equity markets concluded the month of September on a positive note, with significant gains recorded on Friday. The rose by 320.09 points to close at 65,828.41, while the NSE’s Nifty50 advanced by 114.75 points to settle at 19,638.30. The BSE midcap index also registered gains, reflecting an overall uptick in the market.
These gains were primarily driven by positive global cues and investments in the metal, oil & gas, and power sectors. However, the IT sector showed signs of underperformance as indicated by the Nifty IT index.
Market analysts Amol Athawale and Vinod Nair offered insights into market trends and challenges. They noted encouraging GDP data from Britain that further reinforced market optimism.
In broader markets, Authum Investment & Infrastructure hit an upper circuit of 20 percent. Yet, not all stocks performed well; Shreyas Shipping and Finolex Cables underperformed on Friday.
Among other stocks, Apollo Hospital Enterprises and Sun Pharmaceuticals saw gains while Tata Consultancy Services (NS:) lagged behind. The volatility index, India , also saw a considerable drop, indicating a decrease in investor fear or uncertainty about future market movements.
This positive performance of the Indian equity markets comes even as they face challenges including the underperformance of certain sectors such as IT. Investors will likely continue to monitor these developments closely as they navigate their investment strategies for October.
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This story originally appeared on Investing
