Sensex, Nifty post longest gaining streak in a year; Cap goods, PSU stocks lead

The stock market rose for an eighth straight session on Friday, their longest winning run in a year, lifting benchmarks to two-month highs as gains in financials and heavyweights such as ICICI Bank and Reliance Industries offset weakness in FMCG stocks.

The Nifty 50 rose 109 points to end at 25,114, reclaiming the 25,100 mark, while the Sensex advanced 356 points to close at 81,905. The Nifty Bank added 140 points to finish at 54,809, and the broader midcap index outperformed with a 184-point gain to 58,227.

Capital goods and public sector shares were the top-performing sectors, while FMCG stocks came under pressure.

Among individual movers, Hindustan Copper surged 11% after announcing plans for ₹2,000 crore in capital expenditure over the next five to six years. Defence stocks rallied after the government unveiled a 15-year plan for the sector, with Mazagon Dock Shipbuilders and Bharat Dynamics climbing around 5% each.

Auto shares saw renewed buying interest, led by Maruti Suzuki and Eicher Motors. JBM Auto jumped 15% to post its biggest one-day gain in two years after securing $100 million in funding from IFC. Samvardhana Motherson extended its winning run, up 4% on the day and 11% for the week, while Hindustan Zinc rose 4% as silver prices hit a record high.

Consumption names saw profit booking, with Hindustan Unilever and Eternal down about 2% each. Market breadth was mildly positive, with the advance-decline ratio at 1:1.

For the week, the benchmark equities logged their biggest gain in nearly three months, with the Sensex, Nifty and Nifty Bank adding over 1% each. The midcap index outperformed with a 2% weekly rise. All sectoral indices ended in the green, led by IT and PSU stocks, and 39 of the 50 Nifty components delivered positive returns.

Top weekly gainers included Bharat Electronics, Bajaj Finance, Shriram Finance, Infosys and Adani Enterprises, while Trent, Titan, Eternal and IndusInd Bank were among the key laggards. Hindustan Copper, Samvardhana Motherson, Titagarh Rail Systems and MTAR Technologies led midcap gains, while BSE, Crompton, Avenue Supermarts and Angel One were among the few losers.