Indian shares close down

MUMBAI: Indian shares rose on Friday to log gains in a holiday-thinned week, led by auto stocks after last week’s sharp drop made valuations relatively more attractive.

The Nifty 50 rose 0.27% to end at 23,813.4 on the day, while the BSE Sensex added 0.29% to 78,699.07.

Both benchmarks gained about 1% each this week, after a 5% slide last week, the most in 30 months, as the US Federal Reserve’s projection of fewer rate cuts in 2025 tarnished the appeal for emerging markets.

The smallcaps and midcaps rose about 0.2% each this week. Around 180 million shares, on average, were traded on the Nifty 50 in each of the last four sessions, well below the 300-million-share daily average this year.