Stock Market Today: Nifty, Sensex Register Second Consecutive Week Of Losses

• Rupee closed flat at 83.96 against the US dollar.

• It closed at 83.96 on Thursday.

Source: Bloomberg

India's benchmark equity indices logged a second consecutive week of losses as various global and Indian macro economic cues including Yen's carry trade, US recession fears along with the RBI governor's hawkish commentary weighed on them.

However, the global market sentiment was uplifted on the last day amid ease of US recession fears after lower than expected jobless claims data for the week. The upward revision of Reserve Bank Of India's fiscal 2025 growth estimates also added to the positive sentiment on Friday.

The Nifty ended 1.03% or 247.65 points higher at 24364.65 and the Sensex ends 1.04% or 819.69 points higher at 79705.91. Intraday, the Nifty gained as much as 1.3% and the Sensex gained 1.4%.

According to Amol Athawale, vice president of technical Research at Kotak Securities, technically, the larger texture of the market is still in to the weak side. "However, as long as it (Nifty and Sensex) is trading above 24200/79200 the pullback formation is likely to continue up to 20 day SMA or 24525/80400."

He added that further upside may also continue which could lift the market till 24625/80800. "On the other side, dismissal of 24200/79200 could accelerate the selling pressure," he said.

Shares of Reliance Industries Ltd., Infosys Ltd., Mahindra & Mahindra Ltd., State Bank Of India, and HDFC Bank Ltd. led the gains of the Nifty.

While those of HDFC Life Insurance Co. Ltd., Bharat Petroleum Corp. Ltd., Kotak Mahindra Bank Ltd., Maruti Suzuki Ltd., and Sun Pharmaceutical Industries Ltd. limited the gains.

Broader indices also ended higher. BSE Midcap was 1.2% higher and BSE Smallcap ended 0.79% up.

All 20 sectoral indices on the BSE ended higher BSE IT gained the most.

The market breadth was skewed in the favour of buyers. As many as 2,332 stocks rose, 1,571 fell, and 103 remained unchanged on the BSE.

Both the Nifty and Sensex fell over 1% this week.

Most sectoral indices ended lower. Nifty Media, Nifty FMCG, and Nifty Pharma were the only indices that rose.

• Nifty, Sensex close lower in the second week

• Nifty ends 1.03% or 247.65 points higher at 24364.65

• Sensex ends 1.04% or 819.69 points higher at 79705.91

• Broader indices also ended higher; Nifty Midcap 100 ended 0.88% up and Nifty Smallcap 250 gained 0.64%

• All sectoral indices closed higher; Nifty Media was the top gainer

• Eicher Motors and ONGC were top Nifty gainers

• BPCL and HDFC Life were top losers among Nifty stocks

• Net profit down 0.3% at Rs 354 crore vs Rs 355 crore

• Revenue up 2% at Rs 3,091 crore vs Rs 3,030 crore

• EBITDA down 6.2% at Rs 522 crore vs Rs 557 crore

• Margin at 16.9% vs 18.4%

• Net profit up 46.4% at Rs 1,160 crore vs Rs 792 crore

• Revenue up 35.7% at Rs 7,633 crore vs Rs 5,626 crore

• EBITDA up 44% at Rs 4,380 crore vs Rs 3,041 crore

• Margin at 57.4% vs 54.1%