Stock markets end week with gains, Nifty reclaims 23,000 mark
Indian stock markets today ended the week with gains as the benchmark indices extended the previous session’s rebound, with Nifty reclaiming the 23,000 mark amid buying in IT, pharma and select heavyweight stocks coupled with firmness of Indian rupee.
At close, the BSE Sensex was up 308.49 points, or 0.42 per cent, at 74,459.53, and the NSE Nifty was up 116.35 points, or 0.51 per cent, at 23,053.10.However, Nifty midcap index declined 0.8 per cent and smallcap index declined 1.8 per cent.
Among sectors, IT index gained by 2.3 pc, Pharma index up 1.8 pc, while Consumer durables, PSU Bank, Energy, Media down more than 1 pc each, while Auto, Nifty Bank, FMCG, Metal, Realty were down 0.5 pc each.
On Nifty, Trent, Interglobe Aviation, HCL Technologies, Infosys, Sun Pharma were among top gainers on the Nifty, while losers were Adani Ports, Shriram Finance, Adani Enterprises, M&M, Coal India.
Indian rupee snapped two-day losing streak and ended higher at 94.95.Nearly 250 stocks touched 52-week low, while on the other hand, more than 80 stocks touched 52-week high.
Those on low included Suzlon Energy, GMDC, Inox Wind, JSW Dulux, Dalmia Bharat, DCM Shriram, Sumitomo Chemical India, Max Financial Services, Aditya Birla Fashion and Retail, Godrej Consumer Products, Emami, Swan Corp, Finolex Industries, EID Parry, JBM Auto, MedPlus Health Services, Latent View Analytics, Vishal Mega Mart, Supreme Industries and Atul., among others.
On the high were Laurus Labs, Ather Energy, Zydus Lifesciences, Coforge, Piramal Pharma, Eternal, Indian Hotels, Sona BLW Precision Forgings, PVR INOX, Kotak Mahindra Bank, FSN E-Commerce Ventures (Nykaa) and IGIL, among others.
In terms of individual stock performances, Vedanta Oil and Gas share price gained 7 pc, MTAR Technologies shed 4 pc, Borosil share price gained 20 pc and Indostar Capital share price shed 3 pc. Vedanta Power share price gained nearly 14 pc.
Vinod Nair, Head of Research, Geojit Investments Limited said, “Indian equities closed the week higher as softer crude oil prices and easing bond yields revived risk appetite. While the Fed, ECB and BoJ kept rates unchanged as expected, their continued caution on inflation kept hopes of early monetary easing in check. Still, improving macro conditions encouraged broader participation, with mid- and small-caps outperforming large-caps. The mood turned guarded towards the weekend as renewed West Asia tensions pushed crude higher, triggering profit booking in the broader market, though benchmarks preserved their weekly gains. Pharma and healthcare led the rally on encouraging earnings, realty gained from softer yields, while metals, FMCG and autos benefited from expectations of easing input costs. Cement and oil & gas remained the key laggards.”
“Looking ahead, U.S. PMI, job data and US midterm election outcomes will be crucial in shaping global risk appetite, while domestic PMI and Q2 earnings will steer stock-specific moves. With geopolitical risks resurfacing and crude remaining still elevated, volatility is unlikely to fade quickly. Against this backdrop, we favour gradual accumulation in quality businesses offering resilient earnings visibility and reasonable valuations rather than chasing the broader market.”
Among sectors, IT index gained by 2.3 pc, Pharma index up 1.8 pc, while Consumer durables, PSU Bank, Energy, Media down more than 1 pc each, while Auto, Nifty Bank, FMCG, Metal, Realty were down 0.5 pc each.
On Nifty, Trent, Interglobe Aviation, HCL Technologies, Infosys, Sun Pharma were among top gainers on the Nifty, while losers were Adani Ports, Shriram Finance, Adani Enterprises, M&M, Coal India.
Indian rupee snapped two-day losing streak and ended higher at 94.95.Nearly 250 stocks touched 52-week low, while on the other hand, more than 80 stocks touched 52-week high.
Those on low included Suzlon Energy, GMDC, Inox Wind, JSW Dulux, Dalmia Bharat, DCM Shriram, Sumitomo Chemical India, Max Financial Services, Aditya Birla Fashion and Retail, Godrej Consumer Products, Emami, Swan Corp, Finolex Industries, EID Parry, JBM Auto, MedPlus Health Services, Latent View Analytics, Vishal Mega Mart, Supreme Industries and Atul., among others.
In terms of individual stock performances, Vedanta Oil and Gas share price gained 7 pc, MTAR Technologies shed 4 pc, Borosil share price gained 20 pc and Indostar Capital share price shed 3 pc. Vedanta Power share price gained nearly 14 pc.
“Looking ahead, U.S. PMI, job data and US midterm election outcomes will be crucial in shaping global risk appetite, while domestic PMI and Q2 earnings will steer stock-specific moves. With geopolitical risks resurfacing and crude remaining still elevated, volatility is unlikely to fade quickly. Against this backdrop, we favour gradual accumulation in quality businesses offering resilient earnings visibility and reasonable valuations rather than chasing the broader market.”
