1. Sensex and Nifty, bounced back on Friday, ending the week over 1% higher mainly driven by gains in IT stocks. This recovery followed a sharp sell-off earlier in the week.
2. Investor sentiment improved as U.S. jobless claims fell more than expected, reducing concerns about a potential recession in the U.S., a major global economic driver. Some other reasons for today’s rally were a fall in crude prices, bottom fishing in markets, and positive Chinese inflation data
3. Top gainers and losers
Trent, NBCC, KFin, and Avanti feeds were top gainers and gained between 9-18%
Losers were Sail Lemon Tree and Timken which saw a 5-6% fall
4. Ola Electric shares surged 20%, hit upper circuit
RVNL shares fell 4% after Q1 profit declined 35% YoY
Mamaearth Q1 results proved to be off the charts as consolidated PAT zoomed 63% YoY while revenue was up 19%
5. Sector-wise performance
Nifty IT, PSU Bank, Media, Auto, and Realty were top performers and were up 1-2%. All major sectoral indices were in green.
