Markets End Above 23,000, IT Leads Rally, CCS Clears ₹40,000 Cr Stealth CorvettesIndian benchmark equity indices closed higher on Friday, with the Nifty closing above 23,000 and the Sensex trading near 74,500 despite crude oil prices crossing 118 dollars a barrel. IT and pharma stocks led the gains, while mid and small caps faced selling pressure.
Other major domestic developments included the Cabinet Committee on Security clearing an over 40,000 crore rupee project for eight next-generation stealth corvettes to be constructed by GRSE and Goa Shipyard Limited with more than 70 percent indigenous content. Additionally, Finance Minister Nirmala Sitharaman defended the IDBI Bank stake sale, highlighting previous recapitalization efforts, and Walmart initiated an internal investigation into alleged kickbacks at Flipkart.
Market experts discussed corporate earnings, rising crude prices, aviation challenges faced by IndiGo, and investment outlooks for Samvat 2083 across equities, fixed income, and gold.