Final Trade: Sensex rebounds 270 pts, Nifty closes at 24,347; Bajaj Finance, SBI lead

The benchmark indices began on a flat note but rallied through the morning, supported by banking, IT, and oil & gas stocks. However, selling pressure emerged near the day's highs, dragging both Sensex and Nifty sharply lower.

The Nifty 50 ended nearly unchanged at 24,346, up just 12.5 points or 0.05 per cent, after hitting a high of 24,589 intraday. Sensex rose 259 points to close at 80,501.99, but was down 662 points from its day’s top.

Weekly winning streak continues

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Despite the muted close, both indices notched their third straight weekly gain. Nifty rose 1.28 per cent for the week, while Sensex added 1.64 per cent, supported by consistent FII inflows and stable global cues.

Tech stocks lead; Cognizant earnings lift sentiment

Nifty IT stood out, with stocks like Infosys, TCS, and HCL Tech gaining on the back of upbeat earnings and strong guidance from US-listed Cognizant, which cited robust AI-driven demand.

Metal, auto, realty stocks under pressure

Profit booking hit stocks like JSW Steel, Bajaj Auto, and Hero MotoCorp. Sectors such as metals, realty, and pharma saw notable declines, capping broader market gains.

FIIs extend buying streak into May

Foreign institutional investors remained net buyers for the 11th straight session, infusing Rs 37,400 crore into Indian equities through April-end, lending continued support to the market.

Global cues in focus ahead of US jobs data

Investors are now eyeing US non-farm payroll data due later tonight, which could offer fresh clues on the Fed’s policy stance. A soft jobs print may boost rate-cut expectations and risk sentiment.