Mumbai, Nov 14 (NationPress) Indian equity markets bounced back from initial declines to close positively on Friday, propelled by the National Democratic Alliance's (NDA) substantial win in the Bihar elections.

The major indices exhibited volatility as the counting of votes in Bihar's Assembly elections progressed.

The Sensex concluded at 84,562.78, gaining 84.11 points or 0.10 percent. The index opened the day at 84,060.14, dipping over 400 points from the previous day's close of 84,478.67 amid cautious sentiment surrounding the Bihar election outcomes. However, it rebounded by more than 550 points from the day's low to finish in the green.

Nifty closed at 25,910.05, advancing 30.90 points or 0.12 percent.

According to Ashika Institutional Equities, "Indian markets experienced a roller-coaster ride today, with the benchmark Nifty displaying significant fluctuations. Initially, Nifty surged and approached the pivotal 26,000 mark before encountering resistance and retreating later in the session."

Investor caution persisted due to the political ramifications of the Bihar election results.

Among the top gainers in the Sensex lineup were Tata Motors, Eternal, Axis Bank, BEL, Trent, SBI, Sun Pharma, Bajaj Finance, Adani Airports, Hindustan Unilever, Asian Paints, ITC, and NTPC. Conversely, Infosys, Tata Steel, Tata Motors PV, ICICI Bank, Maruti Suzuki, and Tech Mahindra concluded the day on a lower note.

Sector performance was mixed, with declines in IT and auto sectors contrasted by gains in FMCG, banking, and finance stocks. Nifty Bank rose 135 points or 0.23 percent, Nifty Fin Services jumped 95 points or 0.35 percent, and Nifty FMCG closed 317 points or 0.57 percent higher. On the other hand, Nifty IT fell 378 points or 1.03 percent, and Nifty Auto decreased by 143 points or 0.52 percent.

The broader market mirrored these trends, with Nifty Midcap 100 closing flat, Nifty Small Cap 100 rising 68 points or 0.38 percent, and Nifty 100 ending slightly up.

The rupee traded within a narrow range around 88.70 as the dollar index remained stable at approximately $99.20, providing limited directional guidance.

Jateen Trivedi of LKP Securities noted, "With no significant U.S. data releases due to the recent shutdown, the market largely relied on flows, where mixed FII activity and steady DII buying kept the rupee within a confined range. As crude prices begin to recover, if WTI maintains above $60, it may apply further pressure on the rupee in upcoming sessions. Overall, the rupee is anticipated to remain within a range of 88.45–88.95."