Stock Market Today

Why the market moved

Indian markets put in a surprisingly strong Friday session, with the NIFTY 50 rising 2.01% and the SENSEX gaining 2.17%, even as major global markets sold off sharply — the NASDAQ fell 4.17% and the S&P 500 dropped 2.84% amid a broad AI-related tech selloff. The gains were driven almost entirely by large-cap financial stocks, with Private Bank and Financial Services sectors leading the way; ICICI Bank, HDFC Bank, Axis Bank, and Kotak Mahindra Bank were among the biggest contributors, while Mahindra & Mahindra also posted a strong 5.11% gain. Breadth among large caps was notably strong at 46 out of 50 stocks advancing, though mid- and small-cap indices were flat to negative, and sectors like Media and Capital Goods ended in the red. Why Indian financials rallied so decisively against a weak global backdrop is not clear from available data, though foreign institutional investors were net buyers of Rs 14,975 crore in the previous session, and India VIX rose sharply by 13.35%, reflecting elevated uncertainty.

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