NEW DELHI: Strong gains in five out of five sessions pushed benchmark indices higher by 4 per cent this past week. The week saw the BSE Sensex rallying 2,311 points or 4.29 per cent to 5,6072.23 while the NSE Nifty50 advanced 670.3 points or 4.17 per cent to 16,719. The broader BSE500 index also climbed 3.9 per cent to 22,828.47, thanks to a rebound in global indices, the resumption of FPI inflow and a decline in crude oil prices globally.
“All sectors contributed to the surge wherein IT and metals, which were reeling under pressure till last week, witnessed a sharp rebound. Besides, the buoyancy in the banking space helped the key indices settle around the week’s high. Consequently, the broader indices too traded firm and gained in the range of 3.7-4.6 per cent,” said Ajit Mishra of Religare Broking
The week saw 171 out of 500 BSE 500 stocks rising over 5 per cent; among them, 46 stocks gained over 10 per cent. A total of 87 index stocks settled lower for the week.
Shares of
soared 26 per cent for the week to Rs 55.70. The exchanges sought clarification from the company regarding volumes and the price movement, to which the company replied there is no impending announcement by the company which in its opinion needs to be disclosed.
climbed 24.95 per cent to Rs 258.35. Happiest Minds Technologies climbed 20 per cent for the week to Rs 998.05. The company posted a 57.7 per cent increase in consolidated profit after tax at Rs 56.34 crore in the June quarter compared with a profit of Rs 35.73 crore in the year-ago period.
GSFC soared 17.82 per cent to Rs 163.60. This company reported more than doubling of profit to Rs 345.81 crore from Rs 136.11 crore YoY.
A 92 per cent plunge in net profit at Rs 1.34 crore in the June quarter, due to rising cost of commodities and supply chain bottlenecks weighed heavily on shares that plunged 10.58 per cent for the week to Rs 3,159.70. The company reported a net profit of Rs 16.30 crore in the year-ago quarter.
Poor Q1 show also sent Gland Pharma shares falling this past week. This stock declined 7.57 per cent to Rs 2,278.25. The company’s profit fell by 36.7 per cent year-on-year (YoY) to Rs 221.9 crore in the said quarter from Rs 350.65 crore in the same period last year.
(up 17 per cent), The (up 17 per cent), (up 16 per cent), (up 16 per cent), (up 16 per cent) and Swan Energy (up 15 per cent) were some of the scrip that gained over 15 per cent.
& Investments (down 7 per cent), (down 7 per cent), (down 6 per cent), (down 5 per cent), (down 5 per cent) and & Tubes (down 5 per cent).
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
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