The Indian equity markets ended marginally higher on Friday, before surrendering most of their intra-day gains in the afternoon session.
At the closing bell, the Sensex added 187 points, or 0.23 per cent to settle at 83,570. The Nifty advanced 28 points, or 0.11 per cent, to close at 25,694.
The broader markets performed in line with the benchmark indices, as Nifty Midcap 100 index lost 0.07 per cent, while the NSE Smallcap 100 declined 0.34 per cent.
The benchmark Nifty opened on a muted note at 25,696, advanced to an intra-day high of 25,873 driven by a rally in IT stocks amid stronger-than-expected December quarter results. Nifty, however failed to sustain higher levels and eventually slipped to an intraday low of 25,662, reflecting profit-taking at elevated levels.
On the sectoral front, IT, realty and banking stocks outperformed. Nifty IT was the top gainer, up 3.34 per cent. Nifty Pharma and consumer durables slipped 1.30 per cent and 1.15 per cent, respectively.
The Nifty Bank index also surged around 0.84 per cent, inching up to 60,082 closer to setting a new record high mark.
Analysts said the IT sector outperformed, supported by an upward revision in revenue growth projections from a leading industry bellwether, coupled with expectations of increased technology spending.
Meanwhile, investor focus also shifted to banking counters, as early results reflected notable improvements in asset quality and margin profiles, further strengthening sentiment in the sector.
In the derivatives segment, market breadth remained marginally positive, with 131 stocks advancing against 82 declines.
Analysts predict that better-than-expected results in Q3 FY26 could trigger stock-specific action but foreign institutional selling is expected to continue in the near term.
(With inputs from IANS)
