US stock indices closed higher on Friday, pausing the week’s losses on solid economic data. The S&P 500 gained 0.4%, the Nasdaq 100 rose 0.3%, and the Dow added 518 points. Equities advanced after a report showed US business activity grew at its fastest pace in more than four years. Meanwhile, markets continued to assess a recent surge in bond yields driven by inflation and fiscal concerns. Long-dated Treasury yields remained near levels seen before the Treasury announced a larger bond buyback, while the dollar extended its decline. Hyperscalers gained, with Alphabet up 1.1%, Microsoft adding 0.4% and Meta rising 0.8%. Chipmakers traded mixed, with Nvidia down 1%, Micron losing 0.8% and Intel retreating 2.2%. Walmart fell over 10% on the week after a rare earnings miss weighed on its outlook and raised concerns over US consumers.
India’s BSE Sensex finished virtually unchanged at 77,541 on Friday, as market sentiment remained cautious amid elevated oil prices and global bond yields, alongside persistent geopolitical uncertainty. Gains in financials and utilities helped to offset weakness in technology, autos and FMCG stocks. Heavyweight private lenders advanced more than 1%, with Kotak Mahindra Bank (1.1%) and ICICI Bank (0.5%) leading the gains after Goldman Sachs began coverage of 14 Indian banks, pointing to improving earnings prospects. Bernstein expects healthy bank growth in FY2027, underpinned by robust liquidity and a recovery in nominal credit growth. Defensive utilities such as Power Grid and NTPC added 2.7% and 0.6%, respectively. Major losers included Trent (-1.5%), Maruti (-1.5%), IndiGo (-1.4%), HCL Technologies (-1.2%), Hindustan Unilever (-1%) and Infosys (-0.9%). For the week, the index fell about 0.6%.
