Market Wrap: D-St ends third week in green on foreign inflows, US trade deal optimism; Sensex adds 260 pts, Nifty above 24,340

The benchmark BSE Sensex added 259.75 points or 0.32% to close at 80,501.99, while the broader Nifty 50 index closed at 24,346.70, higher by 12.50 points or 0.05%.

Sector Watch

The Nifty 50 and BSE Sensex rose nearly 1% earlier in the session before trimming gains. A rise in heavyweight Reliance Industries Ltd (RIL) and financial stocks offset losses in key auto names following muted monthly sales data.Adani Ports and Special Economic Zone jumped 4%, emerging as the top gainer on the Nifty 50 after reporting better-than-expected quarterly earnings and forecasting higher growth for fiscal 2026 on the back of strong port volumes.

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Nifty Auto ended 0.1% lower. Maruti Suzuki India bucked the trend, rising 1.2% after reporting a 7% year-on-year increase in April sales, with both domestic and export volumes improving.

PNB Housing Finance gained 4% following a large block deal. Media reports indicated Carlyle Group was looking to offload its 10.44% stake in the company.

JSW Steel plunged 6% after the Supreme Court annulled its Rs 19,700 crore acquisition of Bhushan Power & Steel, deeming the 2021 deal “illegal” and ordering the company’s liquidation.

For the week, the Nifty rose 1.3% and the Sensex advanced 1.6%, notching a third straight weekly gain.

Reliance Industries surged 9.4% over the week—its best weekly performance in nearly five years—after reporting strong earnings on April 25.

Investor sentiment has been boosted by signs of progress on an India-U.S. trade deal, with President Donald Trump suggesting potential agreements with India, South Korea, and Japan.

Foreign portfolio investors remained active buyers, purchasing Indian equities for 11 straight sessions through Wednesday—the longest such streak in two years—after turning net buyers in April following three months of outflows.

More to come…