Indian equities rebounded from a sluggish start to close moderately higher on Friday.
The benchmark S&P BSE Sensex advanced by 253.31 points, or 0.34%, finishing at 73,917.03, in spite of subdued signals from international markets.
The broader NSE Nifty index rose by 62.25 points, or 0.28%, ending the session at 22,466.10.
Shares of Mahindra & Mahindra soared by 5.8% following the automaker's release of stronger-than-anticipated Q4 results.
BPCL, JSW Steel, UltraTech Cement, and Grasim each climbed approximately 2%, while Britannia Industries, HCL Technologies, SBI Life, TCS, and Cipla saw declines between 1-2%.
Global market signals were lackluster after three Federal Reserve officials indicated that the U.S. central bank should maintain elevated borrowing costs for an extended period.
China released mixed economic data; however, the government’s announcement of new stimulus measures to bolster the property sector offered some reassurance to investors concerned about the pace of economic recovery.
On the geopolitical front, Israel defended its Gaza offensive at the International Court of Justice in response to South Africa's petition for a cessation of operations in Rafah and a complete withdrawal from Palestinian territory.
As the Gaza conflict persisted, the U.S. House of Representatives passed a bill urging President Joe Biden to resume arms deliveries to Israel.
In currency markets, the dollar stabilized in European trading but was poised for a significant weekly decline. Gold prices inched higher and were on track for a second consecutive weekly gain. Meanwhile, oil prices remained flat, surrendering early gains following the release of China's industrial output, retail sales, and fixed asset investment data.
