Indian Markets Close Week Positively, With Sensex Up 0.32% and Nifty Bank Supporting Rally
Stock markets wrapped up a rocky day with modest losses, as the Sensex took a hit of around 600 points from its intra-day peak and the Nifty settled beneath 24,400. Here are five key takeaways from today's trading session:
Let's wrap up the week's chaos, shall we? Indian stock markets managed to end on a somewhat sunny note, despite the bumps throughout the day. The Sensex settled at 80,501.99, showing a gains of 0.32%, and the Nifty 50 trimmed its losses to 0.05%. The Nifty Bank, however, appreciated, closing at 55,115.35 with a rise of 0.05%. Talk about a roller coaster, huh?
Volatility was the name of the game today, and India VIX—our market's self-proclaimed fear gauge—ended at 18.26, up 0.19%.
Here's a lowdown of the key happenings from Friday's market session:
Stock Movers and Shakers
The top performers in the Nifty pack included Adani Ports, Bajaj Finance, IndusInd Bank, SBI, and Hindalco. On the flip side, the laggards saw JSW Steel, Bajaj Auto, Eicher Motor, HDFC Life, and Hero MotoCorp trail behind.
Manufacturing Roars Ahead
The HSBC India Manufacturing PMI galloped to 58.2 in April 2025 from 58.1 in March, marking the strongest expansion in ten months. The surge was mainly driven by increased domestic and international demand, which boosted production to levels last seen in June 2024.
IT Sector Shows a Mixed Bag
The Nifty IT index inched up, backed by a few standout performers. Persistent Systems, Coforge, and HCL Tech were the top gainers of the day. On the flipside, Tech Mahindra, TCS, and Oracle Financial Services saw minimal losses.
Supreme Court Kicks Out JSW Steel's Resolution Plan for Bhushan Power and Steel
The Supreme Court's verdict sent JSW Steel packing, rejecting their resolution plan for Bhushan Power and Steel, adding another layer to the ongoing steel saga in India's business landscape.
Banking Giants Fuel the Rally
Banking stocks played a significant role in pushing indices higher. Big hitters like ICICI Bank, HDFC Bank, and Axis Bank logged impressive gainson the day. The Nifty Bank index jumped over 1% during the session, keeping its bullish momentum from March and April, where it surged nearly 7%.
Currencycoin Strengthens Against Greenbacks
The Indian rupee broke past the 84 per dollar mark for the first time since October 2024.
Bottom line, while the Sensex posted gains predominantly due to oil & gas stocks, the Nifty's slight decline could be linked to market caution and drag from certain sectors. It'd be interesting to see more comprehensive data on Nifty Bank and the HSBC India Manufacturing PMI to get a clearer picture. Keep your fingers crossed till then, mate!
Friday's financial highlights show a complex picture in the Indian markets, as they closed the week somewhat positively with the Sensex up 0.32% at 80,501.99. The Nifty Bank supported the rally, closing at 55,115.35 with a rise of 0.05%.
Volatility was prevalent, with the India VIX—the market's fear gauge—ending at 18.26, up 0.19%.
Adani Ports, Bajaj Finance, IndusInd Bank, SBI, and Hindalco were the top performers in the Nifty pack, while JSW Steel, Bajaj Auto, Eicher Motor, HDFC Life, and Hero MotoCorp trailed behind.
The HSBC India Manufacturing PMI surged to 58.2 in April 2025 from 58.1 in March, indicating a strong expansion in manufacturing, mainly driven by increased domestic and international demand.
The Nifty IT index inched up, while banking stocks like ICICI Bank, HDFC Bank, and Axis Bank recorded impressive gains. The Supreme Court rejected JSW Steel's resolution plan for Bhushan Power and Steel, adding another layer to the ongoing steel saga in India's business landscape.
Finally, the Indian rupee broke past the 84 per dollar mark for the first time since October 2024. Investors will be keen to monitor Nifty Bank and HSBC India Manufacturing PMI data for a clearer understanding of the market's direction.
Meanwhile, the stock market's trading volatility, bank stocks' significant role in pushing indices higher, and the strengthening Indian rupee are nearly finance-related highlights from the week's business activities.
