Coforge Rallies After Strong Q4 Results ; Nifty PSU Bank Gains After ECLGS 5.0 Approval – Paper by Pocketful

May 06, 2026

Coforge (+9.55%): Stock rallied after strong Q4FY26 results; net profit surged to ₹612 crore, revenue climbed 30% YoY, while upbeat FY27 growth outlook and acquisitions strengthened investor confidence.
Ajanta Pharma (+6.86%): Stock gained after strong Q4; revenue rose 21.5% YoY to ₹1,422 crore, while net profit increased 18.7% to ₹267 crore despite EBITDA margin decline.
Mahindra & Mahindra (+2.80%): Stock rose after Q4 results; revenue increased 11.3% YoY to ₹82,762 crore, while net profit came at ₹5,326 crore despite a 3.1% decline.
KEC International (+3.01%): Stock rise after securing new orders worth ₹1,002 crore across T&D, renewables, transportation and cables, boosting revenue visibility and overall investor sentiment.

PSU Banks | Nifty PSU Bank (+2.84%): Index gained led by SBI, Bank of Baroda & Canara Bank after Cabinet approved ECLGS 5.0 with ₹18,100 crore outlay, boosting credit growth and liquidity support expectations.
Realty | Nifty Realty (+2.63%): Realty index advanced with all constituents trading in green as improved demand outlook and hopes of lower interest rates boosted sector sentiment.

Energy | Nifty Energy (+0.45%): Index gained with 24 gainers and 16 losers as stable crude prices, improving demand outlook, and buying interest across energy stocks supported sentiment.
FMCG | Nifty FMCG (-0.26%): Index remained in consolidation over the last week with most losses seen in HUL, United Spirits & ITC amid muted demand outlook and profit booking.

Technical Level: Nifty opened with a gap-up opening, moved lower initially, found support near 24,000, then rebounded sharply and witnessed a consistent rally till closing, making resistance around 24,360.
Advance-Decline Ratio: Market breadth remained strongly positive with 2456 advances against 841 declines, indicating broad-based buying interest across the market.
The Big Picture: AMD Stock surged after Q1 results beat estimates; revenue jumped 38% to $10.25 billion, driven by 57% growth in data center sales, while strong Q2 guidance boosted AI growth optimism.
FII/DII Activity (May 05, 2026): Institutional sentiment remained negative as FIIs sold equities worth ₹3,622 crore, outweighing DII buying of ₹2,603 crore during the session.

IPO Corner: Recode Studios SME IPO Closing tomorrow, last day to invest.
Macro: Aus Balance of Trade (Mar) & Europe Retail Sales MoM (Mar) due tomorrow.
Index Watch: Nifty opened on a positive note and traded volatile in the first half before witnessing a strong rally in the second half, forming a higher high on the daily candle. For tomorrow, support is placed near 23,800, while next resistance is seen around 24,580.

Pullback: Market’s ability to recover quickly from declines or volatility, showing strength as prices rebound despite negative cues, selling pressure, or uncertain conditions.

👀 Stay tuned. Stay diversified.

Until next time,

Team Pocketful.

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