Domestic market continued its volatility and ended the week with a loss. During this week, the Nifty Fifty plunged 3% over the previous week’s close. Metal Index stood as the outperformer of this week with a gain of 7.62% followed by energy and Realty Index gained by 0.60% and 0.50% respectively. On the other hand IT, Auto, Pharma, Media Indexes were the top losers with a loss of 4.71%, 3.51%, 3.40%, 3.13% respectively. Domestic Equity market ended lower on Monday tracking weak global cues, rising bond yields, and fears of Covid-19-led lockdown came to haunt the bulls on the Street. Domestic Equity market traded positively on Tuesday as gains in the Metals, Real Estate and Oil & Gas sectors propelled shares higher. Market traded positively on Wednesday in an extended trading session, led mainly by gains in banking and financial stocks . Indian equity market trade positively on Thursday, the day of February series derivative contracts expiry led by strong gains in metals and energy stocks. Domestic equity market plunged nearly 4% on Friday tracking the weakness in global equity markets which fell as a rout in a steep hike in US treasury yields spooked investor’s sentiment.
TOP STOCKS IN NEWSCAST:
Hindustan copper surged over 73% this week led by demand lift which has given a sudden spike to base metal prices. The spike in metal base prices, notably, came after China's Lunar New Year as factory production was more buoyant than expected.
Jagran Prakashan rose over 21% on weekly basis as the company plans another buyback. The company’s Q3FY21 net profit rose 7% to Rs83cr in the quarterly result.
NALCO gained over 15% as National Aluminium Company Limited, NALCO's Alumina Refinery was awarded the first prize for 'Best Environment, Health & Safety Practices in Industry', in the state-level competition organized by CII, Odisha.
APL Apollo swelled over 10% after the company allotted Rs75cr worth of commercial paper to ICICI Prudential Ultra Short Term Fund.
Coal India gained over 9% as the board will consider a second interim dividend for financial year 2021.