Weekly Update-02 May 2025

NIFTY50

The index closed the week with a gain of 1.28%, settling at 24,346.70. The week started on a strong note with sharp gains on Monday, where the index closed at the day’s high, signaling strong bullish sentiment. The following two sessions remained sideways to mildly positive, primarily led by large-cap stocks that continued to support the broader trend. However, on Friday, despite a strong start and early momentum, the index failed to hold higher levels and slipped towards the end, closing below the previous swing low. For the upcoming week, key resistance is seen near 24,800, while immediate support is placed around 23,800.

BANKNIFTY

The index closed the week with a gain of 0.83%, settling at 55,115.35. The week kicked off on a strong note with a sharp rally on Monday, largely driven by outperformance in PSU Banks compared to Private Banks, helping the index end at the day’s high. The next two sessions remained largely sideways to slightly positive, reflecting consolidation after the initial surge. On Friday, the index witnessed strong momentum in early trade but failed to sustain gains at higher levels, indicating some profit booking. Key resistance for the upcoming week is placed near 56,200, while crucial support is seen around 54,000.

Best Performing Sector of the week

The Nifty Realty was best performing sector of this week

Major gainers include:-

Prestige Estate: up by 8.02%

Godrej Properties: up by 7.86%

DLF: up by 5.13%

Sobha: up by 5.08%

Worst Performing Sector of the week

The Nifty Media was worst performing sector of this week

Major losers include:-

Dish TV: down by 6.99%

PVR Inox: down by 2.49%

Saregama India: down by 2.42%

Zee Entertainment: down by 1.89%

Important News:-

• DMart Q4 Results: Avenue Supermarts reported a net profit of ₹551 crore in the March quarter, compared to ₹553 crore in the year-ago period.

• SBI announced its January March quarter results for fiscal 2024-25 (Q4FY25) on Saturday, May 3, reporting a drop of 10 per cent in standalone net profit to ₹18,642.59 crore, compared to ₹20,698.35 crore in the corresponding period last year. The public sector bank (PSB)’s net interest income (NII) stood at ₹42,774 crore.
  
• Warren Buffett’s Berkshire Hathaway cash pile hits record high of $347.7 billion in Q1 2025 amid tariff uncertainties.

• Indian Bank announced its results on Saturday, May 3, 2025. The institutional lender recorded a 32 per cent jump in its standalone net profits to ₹2,956 crore in the fourth quarter of the 2024-25 fiscal, compared year-on-year (YoY) with ₹2,247 crore in the same period a year ago.

• Kotak Mahindra Bank announced its results on Saturday, May 3. The institutional lender recorded a 14 per cent fall in its net profits to ₹3,552 crore due to the increase in provision for bad loansin the quarter ended March 31, 2025, compared to ₹4,133 crore in the same period a year ago.