Domestic Equity Market maintained the stability this week and ended the week with a little gain. During this week, the Nifty Fifty reported a gain of 0.60% over the previous week’s close. Domestic equity market ended the day with a positive note on Monday amid a jump in Brent crude oil price along with positive sentiments around the progress of the US stimulus package. Domestic equity Market has shown a positive sign on Tuesday supported by banking, IT and financial stocks witnessing a strong momentum during the closing part of the trade. Domestic equity Market traded in the positive territory on Wednesday led by across the board gains amid positive global cues. Market was closed on Thursday on the occasion of “Mahashivratri”. Domestic Equity Market erased all the morning gains and ended with lower note on Friday dragged by heavy selling across the board. Sectoral Indexes like IT, Bank Indexes were having gains of 2.61%, 0.76% respectively while Realty, Auto, Media, FMCG, Metal, Energy, Pharma Indexes were the losers with a loss of 2.33%, 1.33%, 0.98%,0.87%, 0.75%, 0.57%, 0.07% respectively.
TOP STOCKS IN NEWSCAST:
Tata Power surged over 5% as Electric Vehicle maker Tesla and India's largest integrated power company, Tata Power, are exploring an arrangement on charging infrastructure as the former gears to launch its electric cars in India.
LTI jumped over 4% as Larsen & Toubro Infotech has topped the list of 'IT Services Challenger 2021' in Everest Group's PEAK Matrix Service Provider of the Year™ Awards.
Tech Mahindra rose over 4% on weekly basis as Tech Mahindra announced that it has achieved System and Organization Control (SOC) 2 type 2 attestation for BPS and IT services.
Infosys gained 4% as it has extended its strategic collaboration with Newmont Corporation, the world's largest gold mining company, by five years.