The stock market ended the week on a high note with both the Nifty 50 and Sensex posting significant gains. The Nifty 50 surged 1.76% or 428.75 points to close at 24,834.85, while the Sensex rose 1.62% or 1,292.92 points to finish at 81,332.72. Over the week the Nifty 50 climbed 1.24% or 303 points while the Sensex added 728 points up 0.90%.
Nifty 50 Index Weekly Chart: TradingView
Trading ranges were wide, with the Nifty 50 moving between 24,410.90 and 24,861.15 and the Sensex spanning 80,013.60 to 81,427.18 on Friday. In corporate news, 531 out of 4,425 companies have reported Q1 FY24-25 results so far, showing a 13.4% year-on-year revenue growth and a 5.09% increase in net profit. Thirty more companies including ICICI Bank, REC and Dr. Reddy’s Labs are set to announce their results today.
Tata Motors Ltd led the weekly gainers with a 13.0% increase. The stock’s last traded price (LTP) on Friday was 1118.3 representing a daily gain of 27.35 points or 2.5%.
Source: Trendlyne
HDFC Life Insurance followed closely with a 10.6% weekly gain. Its LTP stood at 703.4 showing a strong Friday performance with a 20.20 point or 3.0% increase.
Sun Pharmaceutical Industries saw a 9.3% weekly rise. The stock closed at 1714.3 on Friday up by 48.45 points or 2.9% for the day.
NTPC Ltd. recorded an 8.7% weekly gain. Its LTP was 396.3, with a Friday increase of 4.15 points or 1.1%.
Bharat Petroleum Corporation gained 8.2% over the week. The stock’s LTP was 328.8, rising by 2.65 points or 0.8% on Friday.
Titan Company Ltd. saw a 7.2% weekly increase. It closed at 3494.2, up 88.35 points or 2.6% for the day.
SBI Life Insurance Company gained 6.3% for the week. The stock’s LTP was 1751.0, showing a Friday increase of 55.55 points or 3.3%.
Cipla Ltd. recorded a 6.0% weekly gain. Its LTP was 1575.0, with a significant Friday rise of 74.95 points or 5.0%.
Divi’s Laboratories also saw a 6.0% weekly increase. The stock closed at 4790.6, surging by 243.60 points or 5.4% on Friday.
ITC Ltd. rounded out the top gainers with a 5.8% weekly rise. Its LTP was 502.2, up 12.25 points or 2.5% for the day.
