Closing Bell: Nifty Extends Weekly Gains, Ends 240 Points Off Day’s High Amid Volatility; Broader Markets Underperform!

In the broader market space, underperformance was seen as both the Nifty Midcap 100 and Smallcap 100 indices ended in negative territory

Indian equity benchmark indices wrapped up the final trading session of the week on a positive note, though they closed significantly below their intraday highs. The Nifty 50 edged up by 12.50 points or 0.05 per cent, while the BSE Sensex gained 259.75 points or 0.32 per cent, finishing above the 80,501.99 mark.

The Nifty 50 had a flat start but quickly gained momentum as bulls drove the index higher, pushing it past the 24,500 level within the first hour of trade. It even approached the 24,600 mark before volatility set in, triggering profit booking that erased most of the gains. Ultimately, the index settled near 24,350—about 250 points below the session’s peak.

On a weekly basis, the Nifty 50 advanced 1.28 per cent, extending its winning streak for the third consecutive week. The rally was primarily fuelled by consistent foreign institutional inflows and supportive global sentiment. Additionally, India’s gross GST collections in April hit a record high, further bolstering investor confidence.

Sector-wise, most indices ended in the red, with Nifty Consumer Durables leading the decline, falling over 1 per cent on Friday, May 2, 2025. In contrast, Nifty Media and Nifty IT were the standout performers of the day.

Over the week, Nifty Realty and Nifty Auto emerged as the top gaining sectors, while Nifty Media turned out to be the worst performer for the week.

In the broader market space, underperformance was seen as both the Nifty Midcap 100 and Smallcap 100 indices ended in negative territory, slipping 0.78 per cent and 0.04 per cent, respectively. This relative weakness kept the overall market breadth tilted towards the declining side.

Disclaimer: The article is for informational purposes only and not investment advice.