Domestic Equity Market continued the upward motion and ended with marginal gains. The NSE Nifty recorded a gain of 0.60% in this week over last week’s close. On Monday, Market ended with major gains led by strong gains in IT, auto and pharma stocks. On Tuesday, Domestic Equity Market inched higher led by strong gains in PSU Banks and auto stocks amid mixed global cues. On Wednesday, the major indices ended flat dragged by financials and pharma sectors. On Thursday, Domestic Equity Market recovered from its morning losses and ended higher tracking Positive economic data along with improving quarterly outlook helped the market. On Friday, Market showed a negative sign as concerns over coronavirus lockdown in China and European countries weighed on market sentiment. Auto stocks remained the outperformer with a gain of 4.49% followed by Realty, FMCG, IT, Bank Indexes gained by 1.15%, 1.03%, 0.77%, 0.51% respectively whereas Metal, Pharma, Media Sectors were the losers with a loss of 2.27%, 1.94%, 1.37% respectively.
TOP STOCKS IN NEWSCAST:
Tata Motors surged over 32% after the company's subsidiary Jaguar Land Rover (JLR) posted a second successive quarter-on-quarter (QoQ) recovery in sales, despite the continuing impact of Covid-19.
Bank of Baroda jumped 15% in this week as the bank has raised over Rs 969 crore through a private placement of bonds.
DLF gained over 13% as Jefferies India believes that the realty firm has made a timely decision in FY21 by changing its policy on the residential segment to sell at project construction start, instead of the policy over the last four years of selling closer to completion.
Sail lost over 9% as the government will sell 5% equity in the central public sector enterprise under the steel ministry while keeping the green shoe option, or option to sell further equity of 5%, in case of an over-subscription.