Weekly gains exceed 4% for benchmark indices; defence stocks like Cochin Shipyard and Mazagon Dock continue their rally on strong Q4 performance.
May 16, 2025: Indian equity benchmarks took a breather on Friday, May 16, after a strong run earlier in the week, with the Sensex slipping 159 points to close at 82,371, and the Nifty 50 settling 31.85 points lower at 25,030, still above the crucial 25,000 mark.
The pullback was largely led by profit-booking in IT stocks, halting a rally that had pushed the markets to a seven-month high on Thursday.
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Despite the day’s dip, weekly gains remain strong, with both Sensex and Nifty up over 4%. Broader indices outperformed significantly—Nifty Midcap 100 surged 7.21% and Nifty Smallcap 100 jumped 9% for the week.
Defence Stocks Extend Stellar Run
Even as tech stocks corrected, defence sector shares remained buoyant, backed by strong earnings and investor optimism:
- Cochin Shipyard: +12.1%
- Mazagon Dock Shipbuilders: Strong gains
- Garden Reach Shipbuilders: Continued momentum
The upbeat sentiment around the defence manufacturing space has been driven by robust Q4 results and a surge in government-led capital expenditure.
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Market Outlook
While Friday’s session reflected some consolidation, analysts see this as a healthy pause after sharp recent gains, especially in the context of ongoing global uncertainties and profit-taking in overbought sectors like IT.
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Sensex, Nifty, Stock Market Today, IT stocks, Defence Stocks, Cochin Shipyard, Mazagon Dock, Garden Reach Shipbuilders, Nifty Midcap 100, Nifty Smallcap 100, Indian Stock Market, Weekly Market Wrap