Stock market today: The Indian stock market witnessed significant volatility during the week and ended lower on Friday, with the benchmark indices posting losses for the third consecutive session. The Nifty fell 0.72% to settle at 23,547.75, while the Sensex dropped 0.85% to close at 74,775.74, on 29 May.
However, the broader market remained relatively resilient, as the mid-cap index gained 0.54% and the small-cap index advanced 1.20%, indicating sustained investor interest in select stocks outside the large-cap segment.
However, the market is likely to continue its losing streak as trends in the Gift Nifty index signalled a negative opening on Monday. Gift Nifty was trading near the 23,702 mark, down over 46 points from the previous close of Nifty futures.
“Indian markets are expected to begin the new week with a cautious undertone as renewed uncertainty surrounding the proposed U.S.–Iran agreement tempers the optimism that had supported risk sentiment in recent sessions. While diplomatic engagement between the two sides continues, negotiations remain fluid, with reports suggesting that Trump has sought revisions to elements of the proposed agreement even as both parties continue to exchange draft proposals. Adding to investor caution, escalating geopolitical tensions elsewhere in the region, including Israel’s expanded military operations in Lebanon, have complicated the broader Middle East outlook and reinforced concerns over regional stability,” said Ponmudi R, CEO of Enrich Money.
As the market is pointing towards a positive start, some stocks are likely to remain in focus on Monday due to their own positive/negative triggers.
Stocks to Watch
IndiGo
IndiGo posted a net loss of ₹2,536.3 crore in the fourth quarter, against a net profit of ₹3,067.5 crore in the corresponding period last year, as weaker operating performance and exceptional charges of ₹250 crore weighed on earnings.
PB Fintech
PB Fintech saw a block deal valued at approximately ₹665 crore on Friday, as co-founders Yashish Dahiya and Alok Bansal offloaded shares to a group of domestic and international institutional investors.
Glenmark Pharma
The pharmaceutical major posted a significant increase in its fourth-quarter profit, which surged to ₹301.4 crore from ₹4.6 crore in the corresponding period last year, driven by robust operational performance.
NMDC
The company posted a 36% year-on-year increase in net profit for the fourth quarter, reaching ₹2,017.6 crore, supported by robust revenue growth.
PNC Infratech
According to an exchange filing, the company has received an EPC contract valued at ₹302.4 crore from the Airports Authority of India.
Vedanta
Vedanta Group on Friday announced that it has secured its highest domestic credit rating in more than a decade, following rating agency ICRA’s upgrade of the long-term ratings of its major group entities to AA+.
Patanjali Foods
Patanjali Foods posted a 46% year-on-year increase in net profit for the March quarter, driven by robust growth in its edible oils and FMCG segments. However, elevated raw material and packaging expenses put pressure on margins.
Lupin
The pharmaceutical company announced in an exchange filing that it has secured approval from the US Food and Drug Administration (US FDA) for its Sodium Sulfate, Magnesium Sulfate, and Potassium Chloride tablets.
Inox Wind
The company posted a 51.1% year-on-year drop in net profit to ₹91.3 crore for the fourth quarter, while revenue declined 2.4% to ₹1,244.2 crore.
Olectra Greentech
The company posted a strong improvement in its fourth-quarter results, with net profit rising to ₹56 crore from ₹21 crore in the corresponding period last year.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
