A mixed earnings season saw several stocks reacting sharply. Shriram Transport was the top Nifty loser, falling 6% on disappointing Q4 results. Maruti Suzuki saw its stock dip nearly 2% after missing margin expectations due to rising expenses. Axis Bank also slid, while Tech Mahindra posted gains following positive Q4 results. SBI Life surged 5% on the back of strong earnings.
In the Adani Group, most stocks closed in the red, down between 3-6%. On the midcap front, Motilal Oswal slid 8% after its earnings report, while Cyient fell 6%. The Nifty Bank index lost 537 points, closing at 54,664, while the Midcap Index saw a decline of 1,400 points to 53,570.
Overall, the market erased nearly ₹9 lakh crore in market capitalisation of BSE-listed companies on Friday, reflecting investor caution.
Despite these losses, the market posted gains of nearly 1% for the week, marking its second consecutive week of positive returns. Nearly 30 of the 50 Nifty stocks closed with positive returns, while the Nifty Bank gained 0.7% and the Midcap Index rose nearly 2% for the week. However, the declines on Thursday and Friday dampened overall sentiment, bringing the weekly gains lower.
