In a positive turn for the financial markets, benchmark indices Sensex and Nifty closed higher on Friday, driven by robust buying activity in banking and automobile stocks.

The 30-share BSE Sensex surged by 226.59 points, marking a gain of 0.29%, to settle at 78,699.07. At one point during the trading session, the index saw a notable rise of 570.67 points, peaking at 79,043.15 before settling down.

Meanwhile, the NSE Nifty also showed strength, climbing 63.20 points or 0.27% to end at 23,813.40.

The upward momentum was predominantly fueled by optimistic investor sentiment towards the banking sector, which has been showing resilience, as well as positive performance in the auto industry, reflecting strong consumer demand and enhanced production levels.

Market analysts expressed cautious optimism, noting that the favorable results from major banking and automotive firms have contributed to a bullish outlook, despite ongoing global economic uncertainties. They recommend that investors keep an eye on upcoming economic indicators that may impact market trends.

Overall, the market’s performance on Friday underscores the resilience of key sectors amid fluctuating economic conditions, setting a hopeful tone for future trading sessions.