Stock Market Update: Adani Power, Ola Electric, Whirlpool India, and Infosys among top gainers and losers on Friday

Indian benchmark indices Nifty and Sensex ended with gains, hitting 52-week highs. Adani Power rallied 5.5% after the Centre granted approval to lay an overhead transmission line. Ola Electric gained 5% after marking its foray into energy storage business. Whirlpool of India rallied 11% after securing brand and technology license agreements with its parent. Yes Bank fell 5% after Japanese lender SMBC clarified no immediate plans to raise its stake beyond 24.99%. Wipro and Infosys fell 5% and 2% respectively despite mostly in-line Q2 earnings.

Indian benchmark indices Nifty and Sensex ended the trading day with significant gains, hitting 52-week highs. The Nifty 50 index closed at a record high of 52,750, while the broader Sensex crossed the 84,000 mark. The positive performance was driven by a mix of corporate earnings optimism and steady foreign fund inflows, despite initial weakness in IT shares.

Key contributors to the rally included Adani Power, which gained 5.5% after the Centre granted approval to lay an overhead transmission line for the Godda plant grid connection project, according to an Economic Times live blog. Similarly, Ola Electric Mobility surged 5% following its expansion into the energy storage sector with the launch of its new product, Ola Shakti . Whirlpool of India also rallied 11% after securing brand and technology license agreements with its parent company .

On the other hand, Yes Bank fell 5% after Japanese lender SMBC clarified no immediate plans to raise its stake beyond 24.99% . IT heavyweights Wipro and Infosys both experienced declines, with Wipro falling 5% and Infosys down 2%, despite mostly in-line Q2 earnings .

The positive sentiment was further bolstered by strong performance in sectors like auto, consumer durables, and FMCG, which led to higher trading volumes. However, banking and healthcare sectors also contributed to the upbeat tone, while IT and media stocks showed some weakness, slightly capping the overall upward momentum.

Global markets also experienced volatility, with S&P 500 futures falling 0.4% and Asian markets showing varied performances. The Nikkei 225 futures fell 1.5%, while Australia’s S&P/ASX 200 retreated 0.8% .

The financial markets in India continue to reflect a mix of optimism and caution, with investors closely monitoring earnings reports and geopolitical developments.