1. The Sensex and Nifty indices rebounded on Friday and ended the week up over 1% mainly due to gains in IT stocks. The recovery came after a sharp sell-off earlier in the week.
2. Investor sentiment improved as a better-than-expected fall in U.S. jobless claims eased concerns about a possible recession in the U.S., the engine of the global economy. Other reasons for today’s gains include lower oil prices, bottom-buying in the market, and favorable data on Chinese inflation.
3. The most profitable and most unprofitable companies
Torrent, NBCC, KFin and Avanti feeds were the top gainers, increasing by between 9 and 18 percent.
Sail Lemon Tree and Timken were among the decliners, dropping 5-6 percent.
4. Ola Electric shares rise 20% to record high
RVNL shares fell 4% after the company reported a 35% decline in first-quarter profit compared to the same period last year.
MamaEarth’s first quarter results showed impressive growth, with consolidated profits up 63% year-on-year and revenues up 19%.
5. Sector Performance
Nifty IT, PSU Bank, Media, Auto and Real Estate led the way, rising 1-2%. All major sectoral indices were positive.
