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WEEKLY EQUITY REPORT: INDIAN EQUITY MARKET WITNESSED GAINS AFTER REGISTERING TWO WEEKS OF FALL

Domestic Equity market continued its volatility and ended the week with a gain. During this week, the Nifty Fifty surged 3% over the previous week’s close. Domestic equity market showed a positive sign on Monday as the government data showed that India exited recession with economic growth of 0.4 per cent in December quarter. Market traded positive on Tuesday as investors tracked mixed signals from global peers and avoided making fresh bets in equities amid upward move in bond yields. Domestic Equity Market extended its gain for the third consecutive session on Wednesday tracking improved economic situation, stability in bond yields and assurances from the government that it had enough covid-19 vaccine doses to cover its population. Domestic equity market traded lower as concerns over spike in bond yields rekindled on Thursday. Indian Equity Market witnessed a fall on Friday tracking a rise in Brent crude prices along with a jump in bond yields acted as the double whammy on stocks. All the sectoral Indexes were in the positive territory. Media Index emerged as the outperformer with a gain of 6.58% followed by IT, Auto, Energy, FMCG, Realty Indexes were having gains of 3.82%, 3.49%, 3.38%, 2.83%, 2.26% respectively.

TOP STOCKS IN NEWSCAST:

India bulls real-estate gained over 36% as India bulls Housing Finance has raised ₹150 million (₹1,091 crore) by issuing foreign currency convertible bonds.

APL Apollo surged over 24% after their boards approved the merger of Shri Lakshmi Metal Udyog and Apollo Tricoat with APL Apollo.

Tata Power gained over 14% as Tata Power Delhi Distribution and Australian tech firm Power Ledger on Wednesday announced the launch of the first live peer-to-peer solar energy trading project in Delhi.

Inox Leisure rose 7% on weekly basis as Inox Leisure has re-opened the unit located in Jharkhand pursuant to the notification issued by the state government.

Hero Moto Corp swelled 7% as Hero MotoCorp Ltd sold 5,05,467 units of motorcycles and scooters in February 2021. The company had dispatched 4,98,242 units of two-wheelers during the corresponding month of the previous year.





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