In a week marked by volatility and global uncertainty, Indian stock markets showed resilience and closed with mild losses, far outperforming their global counterparts. While the Nifty 50 and Sensex ended the week down 0.3%, a strong rebound on Friday helped recover most of the week’s earlier losses.

Strong Friday Rebound Trims Weekly Losses

On Friday, the Nifty surged 429 points to close at 22,829, and the Sensex jumped 1,310 points to settle at 75,157. The Nifty Bank, which had been under pressure throughout the week, rallied 762 points to 51,002, while the Nifty Midcap 100 also added a robust 919 points, closing at 50,502. This broad-based buying was largely fuelled by positive global cues, including easing concerns over US-China trade tensions.

Sectoral Trends: IT, Metals, Realty, and More

While IT, metal, and realty stocks contributed to early-week weakness, metals reversed course by Friday, spurred by improved global risk appetite and a temporary pause in US tariffs on Chinese chemicals.

Key metal stocks such as Hindalco, JSW Steel, and Tata Steel posted sharp gains, benefitting from the rebound in global commodity sentiment.

Meanwhile, tech stocks remained under pressure, weighed down by TCS’s mixed Q4 earnings and subdued commentary from the IT sector. Tech Mahindra, L&T, and Trent were among the top losers on the Nifty.

Reliance Leads Gains, FMCG and PSUs Join the Rally

Among individual performers, Reliance Industries was the top contributor to the Nifty, rising nearly 3%, thanks to renewed optimism in its telecom and retail segments. Other significant gainers included Bajaj Finance, Bajaj Finserv, Cipla, Nestle India, HUL, Titan, and Power Grid, signaling strength across FMCG and utility sectors.

PSU stocks also saw a notable rally, as investor sentiment shifted towards more stable and domestic-facing businesses amidst the global uncertainty.

Chemical Stocks in Focus

Chemical stocks such as Atul, PI Industries, and SRF soared up to 10% after the US temporarily paused tariff impositions on several Chinese chemicals. This move improved market confidence and highlighted opportunities for Indian specialty chemical exporters to gain global market share.

Midcaps Shine Bright

The midcap segment was a standout performer during Friday’s rally. Stocks like Dixon Technologies, PI Industries, MCX, NBCC, and Gujarat Gas posted impressive gains.

However, the week wasn’t without some pain. ICICI Lombard and ICICI Prudential fell 3–5% ahead of their Q4 earnings, as investors turned cautious.

Meanwhile, Muthoot Finance extended its losses, reacting negatively to the RBI's draft guidelines on gold loans, which signaled the possibility of tighter norms for gold-backed NBFCs.

Auto and Tyre Stocks Ride VAHAN Data Boost

The auto sector saw modest gains, supported by VAHAN registration data, which indicated improved vehicle registrations in April’s first half. Tyre companies like MRF, Apollo Tyres, and CEAT advanced 3–4% following positive brokerage reports pointing to stable demand and margin improvements.

Market Sentiment: Domestic Resilience Amid Global Uncertainty

Despite the weekly dip, analysts noted the relative strength of Indian markets compared to global peers. International markets struggled with volatile macro data, US rate uncertainty, and geopolitical tensions, but India held firm thanks to domestic institutional buying and sector-specific strength.

The market breadth on Friday was exceptionally positive, with 47 out of 50 Nifty stocks ending in the green, highlighting strong investor interest across sectors.

Investor Focus Shifts to Q4 Earnings and Macros

As the earnings season progresses, investors are now closely watching upcoming quarterly results from key index heavyweights, which are expected to guide the next leg of market movement. Additionally, attention will be on domestic macroeconomic data, especially inflation numbers and IIP figures, for further cues.

Key Gainers of the Week

• Reliance Industries (+3%) – Led the index higher with strong investor interest

• Hindalco, JSW Steel, Tata Steel – Benefitted from global metals rally

• Atul, PI Industries, SRF – Surged on the back of global chemical policy tailwinds

• Bajaj Finance, Cipla, Nestle, Titan, Power Grid – Supported the index across diverse sectors

• Dixon Tech, MCX, NBCC, Gujarat Gas – Outperformed in the midcap space

Key Losers of the Week

• Tech Mahindra, TCS – Dragged by weak IT sector commentary and earnings

• ICICI Lombard, ICICI Prudential – Declined ahead of results on investor caution

• Muthoot Finance – Continued to slide due to draft guidelines from RBI

• IGL, Nalco, Glenmark Pharma – Slipped on sectoral weakness and stock-specific news

• Trent, L&T – Ended the week lower amid profit booking

Conclusion:

The week closed on a high note for Indian equities, despite starting on a negative tone. The sharp rally on Friday, driven by global positivity and strong domestic fundamentals, helped erase most of the losses and underlined India’s position as a resilient and attractive investment destination.

As investors look forward to the Q4 earnings season and key economic data, the market may continue to show stock-specific movements and sectoral leadership based on performance. India’s ability to decouple from global volatility, at least in the short term, continues to be a key talking point among domestic and global investors.

The Upcoming IPOs in this week and coming weeks are Aten Papers & Foam.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.