Benchmark indices Sensex and Nifty turned positive on Friday after recovering from early losses
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MUMBAI — Benchmark indices Sensex and Nifty turned positive on Friday after recovering from early losses, supported by buying on dips ahead of the key Q2FY26 GDP data, which will be released later today.
The Sensex rose 101 points to 85,821, up 0.12 per cent, while the Nifty inched up 35 points to 26,251, a gain of 0.14 per cent.
"The Nifty seems likely to stay within a defined range, with near-term resistance in the 26,300–26,350 area and support near 26,050–26,100; dips toward this support zone may offer fresh buying opportunities," analysts said.
Strong buying in heavyweight stocks such as Mahindra & Mahindra, Tech Mahindra, Titan, SBI, Maruti Suzuki, Hindustan Unilever, Tata Motors PV, and Sun Pharma helped the market erase its morning losses.
However, the overall upside was limited due to weakness in Asian Paints, Power Grid, Adani Ports, Axis Bank, Infosys, Eternal, HDFC Bank, and Tata Steel.
The market action comes a day after both indices hit fresh all-time highs in intra-day trade on Thursday, with the Sensex crossing 86,000 for the first time and the Nifty moving past 26,300.
In the broader market, sentiment remained weak as the Nifty MidCap index slipped 0.16 per cent, while the Nifty SmallCap index fell 0.36 per cent.
Among sectors, Nifty Auto led the gains with a 0.5 per cent rise, followed by Nifty FMCG up 0.16 per cent and Nifty Metal up 0.13 per cent. On the other hand, the Nifty Private Bank index declined 0.15 per cent, weighing slightly on overall market momentum.
India VIX stands at around 11.79 -- indicating a low-volatility environment and subdued expectations for sharp near-term swings.
"If retail investors have to participate in the rally expected in 2026, to be driven primarily by higher earnings growth, they will have to invest in largecaps and quality midcaps with growth potential," market watchers said.