Nifty Extends Winning Streak for Third Straight Week, Ends the Day Over 200 Points Off Day’s High
Post- Market Update: Indian equity benchmark indices ended the last trading session of the week in positive territory, although off the day’s highs. The Nifty 50 index gained 12.50 points or 0.05%, while the BSE Sensex rose 259.75 points or 0.32% to close above 80,501.99.
The Nifty 50 opened on a flat note but quickly gathered momentum as bulls took charge, pushing the index higher. It managed to cross the key level of 24,500 within the first hour of trade and appeared to be heading towards the 24,600 mark. However, volatility set in and profit booking at higher levels erased a significant portion of the gains. Eventually, the Nifty 50 settled near the 24,350 mark, over 200 points below its intraday high. For the week, the index advanced 1.28%, marking its third consecutive weekly gain.
The rally during the week was primarily driven by continued inflows from foreign institutional investors (FIIs) and positive global cues. Additionally, India's gross GST collection reached a record high in April, further bolstering sentiment.
On the sectoral front, most indices ended in the red on Friday, May 2, 2025, led by Nifty Consumer Durables, which declined over 1%. In contrast, Nifty Media and Nifty IT were the top gainers of the day.
For the week, Nifty Realty and Nifty Auto outperformed, emerging as the top gainers, while Nifty Media turned out to be the worst performer.
In the broader market space, the Nifty Midcap 100 and Nifty Smallcap 100 indices underperformed, ending lower by 0.78% and 0.04%, respectively. Owing to this relative underperformance, market breadth remained tilted in favour of declines.
Disclaimer: The article is for informational purposes only and not investment advice.
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