Nifty 50 rises for third straight week; Reliance leads gains
Published on 02/05/2025 03:49 PM
Nifty 50 rises for third straight week; Reliance leads gainsThe Sensex ended 260 points higher at 80,502, while the Nifty closed up 13 points at 24,347 on Friday. The Nifty Bank added 28 points to finish at 55,115.By Poonam Behura May 2, 2025, 3:49:00 PM IST (Published)2 Min ReadIndian equities extended their winning streak for a third consecutive week, the longest since December 2024, with benchmark indices gaining around 1% each. The Sensex ended 260 points higher at 80,502, while the Nifty closed up 13 points at 24,347 on Friday. The Nifty Bank added 28 points to finish at 55,115.
The broader market underperformed, with the Nifty Midcap index falling 420 points, or nearly 1%, to close at 53,705.
Oil & Gas was the top-performing sector for the week, led by Reliance Industries, which surged 10% — marking its best weekly gain in five years and topping the Nifty gainers list. Other top performers included Maruti Suzuki, Bharat Electronics, SBI Life, IndusInd Bank, and HDFC Life.
Among laggards, Shriram Finance, JSW Steel, UltraTech Cement, and Bajaj Finserv weighed on the index.
In Friday's session, Nifty Auto closed lower after April sales data, with Bajaj Auto and Eicher Motors slipping 2% each. JSW Steel dropped 6% after the Supreme Court rejected BPSL’s resolution plan. Indus Towers fell 7% after its board deferred bonus and buyback announcements post Q4 results.
On the upside, RailTel jumped nearly 7% after reporting a 46% YoY increase in Q4 profit. Godrej Properties gained 4% despite issuing mixed FY26 guidance, while IOC rose 4% following strong quarterly earnings.
Sona BLW added 3%, saying only 3% of its revenue is exposed to new US tariffs. Eternal (Zomato) closed 1% higher despite posting weak Q4 results.
SBI gained 1% ahead of its results, while Kotak Mahindra Bank edged 1% lower. Market breadth was evenly balanced, with an advance-decline ratio of 1:1.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsNifty 50share market today