Stock Market Today: Nifty, Sensex Cap Weekly Gains After Friday's Drop

• The local currency strengthened by 3 paise to close at 83.43 against the U.S dollar.

• It closed at 83.46 on Thursday.

Source: Bloomberg

India's benchmark indices reversed early gains and ended lower on Friday as heavyweights Reliance Industries Ltd., Larsen & Toubro Ltd., and HDFC Bank Ltd. dragged.

However, on weekly basis, the NSE Nifty 50, and S&P BSE Sensex gained.

The NSE Nifty 50 ended 172.35 points or 0.76% lower at 22,475.85, and the S&P BSE Sensex ended 732.96 points or 0.98% down at 73,878.15.

Intraday, the NSE Nifty 50 declined 1.33% to 22,348.05, and the S&P BSE Sensex fell 1.53% to 73,467.73.

"Profit booking and a degree of caution ahead of the release of the US non-farm payroll resulted in selling pressure in the market. However, the absence of significant negative surprises in Q4 earnings thus far, along with a decline in oil prices, might help to mitigate the downside. Though the correction was broad-based, the large-cap stock was the key underperformer due to the moderation of FII's exposure to the domestic market," Vinod Nair, head, research, Geojit Financial Services.

The benchmarks extended gains to second week, with the NSE Nifty 50 ending 0.25% higher, and the S&P BSE Sensex settled 0.20% in the week ended on May 3.

Reliance Industries Ltd., HDFC Bank Ltd., Larsen & Toubro Ltd., Bharti Airtel Ltd., and Maruti Suzuki India Ltd. weighed on the benchmark index.

Coal India Ltd., Grasim Industries Ltd., Bajaj Finance Ltd., Oil and Natural Gas Corporation of India Ltd., and ICICI Bank Ltd. supported the benchmark.

On NSE, eight sectors advanced, and four declined out of 12. The NSE Nifty Media was the top loser, and the NSE Nifty Finance was the top gainer.

Broader markets outperformed. The S&P BSE Midcap ended 0.52% lower, and the S&P BSE Smallcap settled 0.21% lower.

On BSE, 19 sectors out of 20 declined, only S&P BSE Healthcare rose. The S&P BSE Telecommunication declined the most.

Market breadth skewed in the favour of sellers. Around 2,296 stocks fell, 1,540 stocks rose, and 122 stocks remained unchanged on BSE.

• Revenue fell 7.47% to Rs 1,326.06 crore from Rs 1,432.98 crore

• Ebitda rose 26.71% to Rs 195.68 crore from Rs 154.43 crore

• Margin rose 397 bps to 14.75% from 10.77%

• Net profit rose 38.99% to Rs 109.36 crore from Rs 78.68 crore

• Revenue rose 20% to Rs 1,096 crore from Rs 915 crore

• EBITDA rose 23% to Rs 581 crore from Rs 472 crore

• EBITDA margin at 53% vs 51.5%

• Net profit rose 9% to Rs 329 crore from Rs 302 crore

• Revenue up 9% to Rs 2,527 crore from Rs 2,311 crore.

• Ebitda up 5% at Rs 1,834 crore from Rs 1,742 crore.

• Margin fell 280 bps at 72.6% from 75.4%.

• Net profit up 21% at Rs 310 crore from Rs 256 crore.

• RE target for 2030 revised upwards to 50 GW from 45 GW