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Paras Defence JV, FMCG Surge on ITC Earnings, Emcure Pharma Soars on Strong Q4
Paras Defence JV, FMCG Surge on ITC Earnings, Emcure Pharma Soars on Strong Q4
Written by - Fisdom Research
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May 23, 2025
2 minutes
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Market Snapshot
After a sluggish start to the week, Indian benchmark indices ended the May 23 session on a positive note.
The Nifty closed near the 24,850 mark, maintaining bullish sentiment among analysts.
Sectoral performance was mixed, with most indices closing in the red. Major sectoral laggards included Consumer Durables (-1.9%), Auto (-1.7%), IT (-0.9%), FMCG (-0.8%), Oil & Gas (-0.6%), and Power (-0.2%).
Broader weakness was seen across Power, Metal, Telecom, Pharma, Realty, and Consumer Durables, which declined by 0.5% to 2%. On the other hand, select sectors posted gains—Real Estate (+2.4%), Metal (+0.6%), and Capital Goods (+0.5%) outperformed.
The Bank Nifty closed the week on a flat note, indicating limited momentum in financials.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY FMCG
1.6
NIFTY METAL
0.8
NIFTY PRIVATE BANK
1.1
NIFTY MEDIA
0.5
NIFTY IT
1.0
NIFTY PSU BANK
0.5
NIFTY OIL & GAS
0.8
NIFTY CONSUMER DURABLES
0.3
Top News
Paras Defence surged over 1% on May 23 after announcing a joint venture with Israel’s Heven Drones to manufacture cargo drones for defence and civil use, with Paras holding a 51% majority stake.
FMCG stocks rallied sharply, led by ITC, Varun Beverages, and Nestle India, after ITC’s strong Q4 results lifted sector sentiment, making Nifty FMCG the top performer with a nearly 2% intra-day gain.
Emcure Pharma hit the 10% upper circuit after reporting a 63% YoY jump in Q4 consolidated PAT to ₹197 crore, up from ₹121 crore last year.
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
ETERNAL
3.6
SUNPHARMA
-1.7
HDFCLIFE
3.3
GRASIM
-0.7
JIOFIN
2.5
BHARTIARTL
0.0
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,500
25,000
Bank Nifty
54,500
56,000
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