Nifty nears 25,300 as banking stocks lead market gains

The domestic share market extended its upward journey for the second consecutive session on Friday led by gains in financial heavyweights, as the Nifty crossed 25,300 intraday for the first time since September 19.Sustained FPI inflows and optimism around upcoming earnings supported sentiment,while TCS’s weaker results restricted broader market gains.At close, the Sensex was up 328.72 points or 0.40 percent at 82,500.82, and the Nifty was up 103.55 points or 0.41 percent at 25,285.35.
Cipla, SBI, Dr Reddy's Labs, Maruti Suzuki, Adani Ports were the top gainers on the Nifty, while losers included Tata Steel, TCS, JSW Steel, Tech Mahindra, HDFC Life.On the sectoral front, metal index shed 0.8 percent, while auto, bank, consumer durables, PSU bank, realty, pharma added 0.5-1 percent.Broader indices performed inline with the main indices with BSE Midcap index rising 0.4%, and smallcap index gained 0.6%.
Market This Week: 
●For the week, BSE Sensex and Nifty added 1.5 percent each,
●Market gains for second straight week, posts biggest weekly gains in 3 months,
●All 4 frontline indices post gains of nearly 2 percent,
●Capital market & IT are top gaining indices, up 5 percent each.
Rupee Close: 
On 10 Oct'25,the Indian rupee appreciated 10 paise to close at 88.69  against the US dollar on Friday, on strength in the domestic markets and broad weakness in crude oil prices.Forex traders said the rupee gained on strong domestic markets and overnight decline in commodity prices. Intervention by the central bank also supported the domestic currency. However, a strong US dollar capped sharp gains, they added.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments stated,Indian equities closed higher, led by strong gains in banking and pharmaceutical stocks. Investor sentiment improved after the government invited private sector professionals to lead State Bank of India. This marks a broader policy shift towards allowing private participation in public sector enterprises, aimed at enhancing efficiency and governance.Pharma stocks rallied as the US revived the Biosecure Act, aiming to cut biotech ties with flagged foreign firms, especially from China, providing a strong boost to Indian CDMOs. With the earnings season underway, investors are closely watching quarterly results for cues on market direction.
Market experts rexommended five stocks to buy on Friday-Dr. Agarwal's Health Care, Precision Wires India, Blackbuck, Subros, Hi-Tech Gears.

(Business Correspondent)