An eventful week it was. BJP's landslide victory in Uttar Pradesh, US Federal Reserve's less hawkish tone and an update on Goods and Services Tax (GST) pushed the Nifty50 index to its fresh lifetime highs thrice in a holiday-truncated week.
Interestingly, Sensex remained over 350 points away from its all-time high of 30,025-mark, while rupee appreciated against dollar to its multi-month high.
During the week ended March 17, the S&P BSE Sensex added 2.4% or 702 points to settle at 29,649, while Nifty50 gained 2.5% or 225 points to close at 9,160. The Nifty index had reclaimed its crucial 9,200-mark for the first time ever in intraday trade on Friday.
Midcap and Smallcap stocks outperformed the frontline indices to gain 4% and 3%, respectively.
Sectors and stocks
Sectorally, all indices ended in positive.
BSE Realty index surged 5%, followed by the BSE FMCG index (up 4.7%), and the BSE Consumer Durables index (up 4.4%). The BSE Capital Goods index and BSE Power index gained 4.3% and 3.3%, respectively, while, BSE Metal index rallied 3%.
Among individual stocks, Adani Ports, Tata Steel, ITC and HDFC advanced 8%, 7.3% and 6.8% and 5.7%, respectively. Sun Pharma gained 4.7%, while Maruti Suzuki, Larsen & Toubro and ICICI Bank jumped 4% each.
Losers included Coal India (down 8.5%), Bharti Airtel (down 5%) and GAIL (down 0.8%). ONGC and TCS were marginally lower.
MARKET NEXT WEEK: In the absence of major domestic and global cues, the investors will track the developments on the GST Bill. “For the week ahead market will look for more cues on GST rates which is expected to see stock or sector specific actions,” said Nair of Geojit.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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