stock market analysis: Market Watch: Nifty looks range-bound for next week | The Economic Times Podcast

Domestic equity indices closed higher on Friday ahead of a crucial speech by US Fed Chair Jerome Powell due later in the day.

The 30-share Sensex advanced 59.15 points to end at 58,833.87. Its broader peer, Nifty50, ended the session comfortably above the 17,500 mark.

NTPC was the top gainer from the 30-share pack, rising nearly 2.80 per cent to Rs 163.40. Titan Company rose 2.65 per cent, followed by Power Grid Corp, up 1.92 per cent, and Kotak Mahindra Bank, rising 1.71 per cent, respectively.

On the other hand, IndusInd Bank tanked 1.92 per cent, HDFC fell 1.20 per cent, Asian Paints was down 1.18 per cent and Bharti Airtel 1.02 per cent. Dr Reddys Labs, Reliance and HUL were also among the stocks that settled with cuts.

Sectorally, the Nifty Metal index added 1.77 per cent, while Nifty Consumer Durables added 1.29 per cent. Nifty PSU Bank and Oil & Gas also settled higher. Nifty Midcap50 and Smallcap50 advanced 0.55 per cent and 0.63 per cent, respectively.

Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said the short term trend of Nifty is range bound with volatility and the consolidation movement is expected to continue for the next week.

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