Indices end lower on Friday, Nifty fails to hold 10700; bank stocks fall


Benchmark indices edged lower on Friday as losses in financials offset gains in auto stocks, with investor focus shifting to the monsoons.

The S&P BSE Sensex ended at 35,227, down 95 points while the broader Nifty50 index settled at 10,696, down 40 points.

Among sectoral indices, the Nifty Bank index ended over 1% lower led by a fall in the shares of IndusInd Bank and Federal Bank.

Meanwhile, government data showed on Thursday that Indian economy grew 7.7% year-on-year in January-March, its quickest pace in nearly two years driven by higher growth in manufacturing, the farm sector and construction.

Adani Power Mundra, a subsidiary of Adani Power, is likely to approach the National Company Law Tribunal (NCLT) for bankruptcy protection. This comes after its lenders stepped back from stake-sale negotiations with Gujarat Urja Vikas Nigam (GUVNL), the state power distribution company.

Sun TV Network fell for fifth straight session, down 3.9% at Rs 881.85, on the NSE. Sun TV Network jumped 5.69% in last one year as compared to a 10.94% rally in Nifty and a 1.48% spurt in the Nifty Media index.

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Nifty ends on Friday at record close for 2nd straight session, up 2.5% for the week


The Sensex settled the day at 29,649, up 63 points, while the broader Nifty50 ended at 9,160, up 6 points.

Broader market underperformed the frontline indices with BSE Midcap down 0.14% and BSE Smallcap up 0.04%.

The Nifty has gained 2.5% so far this week, while the Sensex has climbed 2.85%, in what is their highest weekly gain since the end of January.

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Some of the winners from the week gone by


StockArchitect is a platform that works. It helps investors take an informed decision based on the collective views of others.

Here are some of the winners of the week that just went by.

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