Benchmark stock market indices reached a six-week high on Friday, primarily driven by surges in energy stocks, marking their most impressive weekly performance in over two months.
The Nifty 50 index closed with a 0.47 per cent gain at 19,819.95, while the S&P BSE Sensex rose by 0.5 per cent to reach 66,599 points.
These benchmark indices achieved their second consecutive week of gains, registering their best performance since the week ending June 30, with each index gaining nearly 2 per cent.
Both the blue-chip Nifty 50 and Sensex indexes rebounded by approximately 3 per cent from their near two-month lows reached in late August, following reports of India’s first-quarter GDP growth at 7.8 per cent, the fastest rate in a year.
Meanwhile, small and mid-cap stocks continued to outperform the benchmark indexes, with gains of 0.6 per cent and 1 per cent, respectively. Year-to-date, they have risen by 32 per cent and 30 per cent, outpacing the 9 per cent gains in blue-chip indexes.
The top gainers included energy companies and public sector enterprises, which increased by 1.4 per cent and 2.6 per cent, respectively.
For the week, these indexes recorded gains of 3.4 per cent and 4.5 per cent, driven by a surge in power stocks due to increased power demand in the country.
Coal India had a standout week, with a 19 per cent jump.
