MUMBAI: Indian equity markets ended the week on a strong note, with benchmark indices gaining on the resolution of the US government shutdown, supported by strong domestic fundamentals, better-than-expected Q2 earnings, easing inflation and NDA's historic victory in Bihar, according to analysts.
Record-low October inflation reinforced expectations of an RBI rate cut, adding momentum to domestic equities.
According to Vinod Nair, Head of Research, Geojit Investments Limited, sectoral momentum was broad-based, led by gains in IT, Pharma, healthcare and Auto stocks.
“Toward the week’s close, the NDA’s Bihar election victory bolstered investor confidence, but fading expectations of a U.S. Fed rate cut triggered profit booking in IT stocks, tempering their earlier gains, ” he mentioned.
The indices remained under pressure for most of the session on Friday, oscillating between losses and brief recoveries, before a strong late-afternoon rebound pushed them into the green.