Domestic Equity Market continued its upward motion and ended the week with gains. The NSE Nifty recorded a gain of 2.00% in this week over last week’s close. All the sectoral Indexes were the gainers .Realty, Metal, Auto, Bank, IT Indexes were the top Performer with having gains of 5.73%, 3.64%, 3.28%, 2.71%, 1.86% respectively. Indian Equity Market showed a positive sign on Monday following positive global cues after US President Donald Trump signed a USD 900 billion pandemic relief package. Domestic Equity Market ended the Tuesday’s volatile session with a positive note mainly led by gains in banks, financial and IT stocks. Market recovered from the losses and ended the session in positive territory on Wednesday led by gains in metal and Auto stocks. Domestic Equity Market ended flat on the last day of the December F&O expiry series as gains in metals, pharma, realty and auto stocks were countered by selling pressure in FMCG, PSU Banks and financial stocks. Market stayed higher on Friday led by gains in PSU banks and auto stocks.
TOP STOCS IN NEWSCAST:
Sail gained over 23% in this week after reports of steelmakers writing to Prime Minister Narendra Modi, explaining that the metal price hike was due to surging raw material costs, and demanding a ban on iron ore export for six months.
Sobha Realty rose nearly 20% as the company has reported a significant rise in demand for villas and garden house sales in the second half of 2020.
APL Apollo jumped over 12% after CARE Ratings revised the long-term ratings assigned to the bank facilities of the company with a stable outlook.
Dish TV lost 7% after the company said it has received a notice from the government for payment of ₹4,164.05 crore for licence fee.
Biocon slipped 3% after the USFDA informed about a deferred action to subsidiary Biocon Biologics and Mylan over Avastin biosimilar license application.