On Friday, Nifty 50 gained 1.04% to 24,367.50. 44 stocks ended up in the green while 6 declined.

The star of the day was Eicher Motors, which saw a substantial gain of 5.54%, taking its current price to ₹4830.60 from the previous close of ₹4576.90. Eicher Motors gained after brokerages gave a 27% upside for the stock after its Q1 results.

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Following closely was ONGC, with a 3.05% increase, taking its current price to ₹332.55 from the last close of ₹322.70. Other notable gainers included Shriram Finance, Tech Mahindra, and Tata Motors, which rose by 2.99%, 2.74%, and 2.53% respectively.

On the flip side, BPCL led the pack of underperformers with a 1.45% decrease, bringing its current price down to ₹333.40 from the last close of ₹338.30.

Not far behind was HDFC Life Insurance, which saw a slight dip of 1.12%, reducing its current price to ₹702.4 from the previous close of ₹710.35. Other stocks that witnessed a downward trend included Kotak Mahindra Bank, Sun Pharma and Divi’s Laboratories with minimal decreases of 0.10%, 0.09%, and 0.08% respectively.

Vinod Nair, Head of Research, Geojit Financial Services said, “Positive US jobless claims data eased the fears of recession and provided a favourable broader market reaction. The IT index outperformed in expectation of improved spending. Though the sentiment is gaining traction, a lack of fresh triggers and subdued earnings will be a deterrent to higher valuation. To safeguard the sentiment, investors are advised to shift their focus from growth stocks to value stocks.”

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