The Indian benchmark indices closed higher on Friday as the Sensex ended at 83,570.21 rising over 180 points and the Nifty closed trade at 25,701.45 climbing more than 35 points at 3:30 PM.

In the 30-share BSE Sensex, among the top gainers were stocks like Infosys, TechMahindra, HCLTech, State Bank of India, Ultra Cement and HDFC Bank. Meanwhile, the laggards included stocks like IndiGo, Reliance, L&T, Axis Bank and Bharti Airtel.

In the broader markets, the Nifty Midcap 50 gained 0.54 per cent and the Nifty Smallcap fell 0.47. Sectorally, Nifty Pharma tumbled 1.28 per cent and the Nifty IT rose 3.34 per cent. 

Previously, the BSE Sensex rang the opening bell near 83,650, rallying more than 250 points, while the NSE Nifty50 opened the day around 25,700, rising almost 50 points, around 9:15 AM.

Mid-Day Market Performance

Benchmark indices pared gains in late afternoon trade, with the Sensex slipping more than 600 points from the day’s high after crossing the 84,000 mark, while the Nifty saw profit booking after touching the 25,850 level and traded below 25,700.

Around 1:50 PM, the Sensex was up 190.35 points, or 0.23 per cent, at 83,573.06, while the Nifty rose 27.6 points, or 0.11 per cent, to 25,693.20. On the broader market front, 1,823 shares advanced, 2,003 declined and 144 remained unchanged.

Markets Recover Strongly 

Markets recovered strongly after a two-day decline, though mild intraday profit booking was seen as investors awaited fresh cues from key third-quarter earnings, including those of Reliance Industries, ICICI Bank and HDFC Bank. Reliance Industries is scheduled to announce its results in post-market hours on January 16, while ICICI Bank and HDFC Bank will declare their numbers on January 17.

Bank Nifty slips below 60,000

The Bank Nifty also witnessed mild profit booking, slipping below the 60,000 mark after regaining the level following a gap of four days.

US Supreme Court overhang

The US Supreme Court did not deliver a ruling on challenges to President Donald Trump’s tariffs on Wednesday, leaving global markets awaiting clarity until at least next week. A potential ruling, which could have triggered sharp volatility, did not materialise. With no fixed timeline for a decision, such an event is unlikely to influence markets in the near term, said VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.

Persistent FII selling

Foreign Institutional Investors (FIIs) have remained net sellers throughout January, extending outflows and weighing on broader market sentiment. FIIs were net sellers of Rs 4,781 crore in Indian equities on January 14, while Domestic Institutional Investors (DIIs) were net buyers of Rs 5,217 crore on the same day.

The rising short positions built by FIIs suggest that sustained selling may remain the near-term trend until a reversal is triggered by positive news or events. For long-term investors, the ongoing weak and directionless market drift offers opportunities