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Short covering occurs when investors buy shares to close out their short positions, indicating a shift from a highly negative outlook to a more positive one. On Friday, five stocks experienced this kind of activity.

Piramal Pharma Q1 Earnings: Piramal Pharma narrowed its net loss to Rs 89 crore in Q1FY25 from a net loss of Rs 99 crore in the corresponding quarter of the previous year.

The Nifty Realty index was trading 1.6 per cent up at 1082.35.

Telecom infrastructure company Indus Towers said the board will consider and approve a proposal to buyback of fully paid-up equity shares, pushing its stock price up by 4.75% Friday.

Driven by strong buying across sectors, Nifty50 reached a new high of 24,861 on Friday, closing up 1.8% at 24,834.85. Sensex gained 1.62% to 81,332.72.

As your portfolio does well, you start underestimating the risks. I would say that every investor should, rather than choosing between defensive and aggressive plays, constantly raise their risk awareness. As long as you do that, I think one should be fine.

Among the new additions were Emkay Global Financial Services (1.63%), Super Sales India (1.06%), Nile (1.10%), Tinna Rubber and Infrastructure (1.03%) and Ujjivan Small Finance Bank (1.07%). In these Emkay Global, Nile and Tina Rubber have been multibaggers, delivering returns of 120%, 177% and 349% over the last one year. Super Sales, on the other hand, has given returns of 58% in this period.

IndiGo Q1 Results: IndiGo reported a 12% decline in consolidated net profit to Rs 2,729 crore for the first quarter ended June 2024, down from Rs 3,091 crore in the same quarter last year. However, revenue from operations rose 17% year-on-year to Rs 19,571 crore. Both profit and revenue exceeded expectations.

Net profit of Rs 2,124 crore was reported by the lender in the year-ago period.

The Indian rupee declined to a record low at 83.7250 against the USD, pressured by dollar demand from oil companies, custodial banks, and weak risk sentiment.