Amid record-high April GST collection, ongoing foreign money inflows, and optimism about a possible India-US trade agreement, the BSE benchmark index, the Sensex, closed Friday 260 points higher. Additionally, a strong trend in international markets contributed to the confidence in stocks.

The 30-share BSE benchmark barometer eventually erased most of the gains after a strong intraday advance, closing 259.75 points, or 0.32 percent, higher at 80,501.99. The benchmark increased 935.69 points, or 1.16 percent, to 81,177.93 over the day. The NSE Nifty managed a meager gain of 12.50 points, or 0.05 percent, to close at 24,346.70 in a tumultuous trading.

Due to selective purchasing in banking and IT sectors, markets were very volatile in the first half, bouncing above 1,000 points before getting range-bound and ending higher. Investors turned to profit-taking after the recent spike, and the overall markets ended the day sluggish. Investors are not placing large bets on stocks because of the unstable global climate brought on by geopolitical unrest and the continuing tariff war, according to Prashanth Tapse, senior V-P (research), Mehta Equities Ltd.

After reporting a 50% increase in its March quarter net profit and releasing a stronger year-over-year revenue growth outlook for the current fiscal year, citing solid development in the logistics industry and good port volumes, Adani Ports, one of the Sensex companies, rose more than 4%. Other companies that benefited were Bajaj Finance, IndusInd Bank, State Bank of India, Maruti, Tata Motors, ITC, Tata Steel, and Reliance Industries.

Among the laggards were Titan, Kotak Mahindra Bank, Nestle, NTPC, and Power Grid. The government claimed that the Goods and Services Tax (GST) collection increased 12.6% year over year to reach an all-time high of over Rs 2.37 lakh crore in April, demonstrating the Indian economy’s tenacity and the efficacy of cooperative federalism.