Indian equity indices ended with major gains on Friday, rising for the second consecutive day. The Nifty settled around the 18,500 level. All the sectoral indices on the NSE ended in the green. 
As per provisional closing, the barometer index, the S&P BSE Sensex advanced 629.07 points or 1.02% to 62,501.69. The Nifty 50 index added 178.20 points or 0.97% to 18,499.35. 

In the broader market, the S&P BSE Mid-Cap index gained 0.82% while the S&P BSE Small-Cap index advanced 0.49%. 

The market breadth was positive. On the BSE, 1,963 shares rose and 1,526 shares fell. A total of 141 shares were unchanged. 

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 4.95% to 11.90. 

Stocks in Spotlight: 

Reliance Industries (RIL) jumped 2.85%. RIL said that Reliance Consumer Products (RCPL), the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures (RRVL) has completed the acquisition of 51% controlling stake in Lotus Chocolate Company for an aggregate consideration of Rs. 74 crore. It also subscribed to non-cumulative redeemable preference shares of Lotus Chocolate Company for an aggregate consideration of Rs 25 crore. RCPL has also completed the acquisition of equity shares pursuant to the open offer. RRVL is subsidiary of RIL. 

Mahindra & Mahindra's (M&M) added 0.04%. The automobile maker's standalone net profit rose 22.1% to Rs 1,548.97 crore on 30.94% jump in revenue from operations to Rs 22,571.37 crore in Q4 FY23 over Q4 FY22. M&M sold 1,89,227 vehicles in Q4 FY23, recording a growth of 21% as against 1,55,906 vehicles sold in the same quarter a year ago. Total tractors sold in Q4 FY23 stood at 89,128 units, rising 24% year on year. 

Sun Pharmaceutical Industries advanced 2.36% after the company reported net profit of Rs 1,837.8 crore in Q4 FY23 as compared with net loss of Rs 1996.5 crore in corresponding quarter last year. Net sales jumped 15.71% to Rs 10930.6 crore in Q4 FY23 as against Rs 9446.7 crore recorded in Q4 FY22. 

Grasim Industries fell 1.06% after the Aditya Birla Group company's consolidated net profit declined 4% to Rs 1,369 crore in Q4 FY23 as against Rs 1,419 crore recorded in Q4 FY22. Revenue from operations grew by 16% year on year to Rs 33,462 crore in the quarter ended 31 March 2023. 

HDFC rose 0.16% and Siti Networks fell 1.18%. Housing Development Finance Corporation (HDFC) said it has further sold 1,86,38,101 shares, representing 2.14% of the paid-up share capital, of Siti Networks. The latest transaction includes sale of 30,00,000 shares, representing 0.34% of the paid-up share capital, of Siti done on 24 May 2023. 

ZEE Entertainment Enterprises (ZEEL) surged 6.60%. The company reported a consolidated net loss (from continuing operations) of Rs 72.89 crore in Q4 FY23 as against a net profit of Rs 244.35 crore posted in Q4 FY22. Revenue from operations declined 9% year on year to Rs 2,112.11 crore in the quarter ended 31 March 2023. 

Steel Authority of India (SAIL) rose 0.26% after the company reported 57% fall in standalone net profit to Rs 1,049 crore on a 5% decline in sales to Rs 28,957 crore in Q4 FY23 over Q4 FY22. 

Gujarat State Fertilizers & Chemicals (GSFC) fell 2.93% after the company's standalone net profit declined 17.7% to Rs 240.49 crore despite of 17.7% rise in revenue from operations to Rs 2,410.19 crore in Q4 FY23 over Q4 FY22. 

Radico Khaitan advanced 1.81% after the liquor maker's standalone net profit slipped 19.6% to Rs 37.26 crore in Q4 FY23 as against Rs 46.36 crore recorded in Q4 FY22. Net revenue from operations was at Rs 831.84 crore during the quarter, up 2.4% from Rs 812.52 crore reported in the corresponding quarter previous year. 

Page Industries tumbled 8.89% after the company's net profit slumped 58.9% to Rs 78.35 crore on 12.8% decline in revenue from operations to Rs 969.09 crore in Q4 FY23 over Q4 FY22. 

Vodafone Idea added 0.86% after the company reported net loss of Rs 6,418.90 crore in Q4 FY23 as compared with Rs 6,563.10 crore posted in Q4 FY22. Revenue from operations rose 2.7% to Rs 10,509.50 crore in Q4 FY23 as against Rs 10,234.60 crore in Q4 FY22. 

MedPlus Health Services rallied 16% after the company's consolidated net proifit surged 126.6% to Rs 26.58 crore in Q4 FY23 as compared with Rs 11.73 crore in Q4 FY22. Revenue from operations jumped 29.7% year on year to Rs 1252.98 crore in Q4 FY23. 

Nucleus Software Exports was locked in an upper circuit of 20% after the IT firm's consolidated net profit surged 76.45% to Rs 67.65 crore in Q4 FY23 from Rs 38.34 crore in Q3 FY22. Revenue from operations rose 34.74% quarter on quarter (QoQ) to Rs 206.20 crore during the quarter. 

Global Markets: 

Shares in Europe declined while most of the Asian stocks advanced on Friday as talks to raise the U.S. debt ceiling reached their crucial final week. 

Wall Street ended sharply higher on Thursday after a blowout forecast from Nvidia sent the chipmaker's stock soaring and fueled a rally in AI-related companies, while investors watched for signs of progress in U.S. debt ceiling talks. 

US Republican negotiators on Thursday said some progress had been made in debt-ceiling talks, though a deal has not yet been reached.