In the weekend Friday, the NSE Nifty closed 0.85% up at 11,075.90, while the BSE Sensex closed 0.76% higher at 37,384.99. The last moments led 40 stocks out of 50 in the Nifty pack ended with significant gains, while Oil Companies stocks being the top ranters.
On a weekly basis, the Nifty posted gains by 1.09% and the Sensex recorded 1.18% gains each. The Nifty-MidCap index gained 2.3% for the week, while PSU bank metal & auto gained among sectors this week. get more nifty future trading tips to visit our blog.
Major Weekly Gainers in five numbers on the Nifty this week were Yes Bank (+13%), Tata Motors (+9.74%), Hindalco (+8.53%), Maruti Suzuki (+8.07%) and Bharat Petroleum Corp (+8%). Indiabulls Housing Finance, Bank of India, DHFL, ICICI Bank and Hero MotoCorp were other major Nifty gainers this week.
At the same set of weekly losers on Nifty50 were Wipro (-4%), HCL Tech (-3.9%), TCS (-3.31%), Zee entertainments (-2.85%) and Sun Pharma (-2.07%).GAIL, NTPC, Tech Mahindra, Bharti Airtel, Cipla Infosys, and Power Grid were other major Nifty losers this week.
Among Nifty Mid-cap stocks, Nitco Tiles signified (up 39%) as the major gainers this week. Also, Wockhardt, Fineotex Chemical, STC, Rico Auto, Walchandnagar, Gravita India, JK Paper and Coffee Day Enterprises recorded their weekly gain on Midcap stocks rising between 19 -36%. weekly updated about the stock Tips go to our website.
Among losers on the Nifty MidCap include Eveready Industries, Manpasand Beverages, and Glenmark Pharma falling by up to 18%.
The rise in stocks was mainly supported by economic data and the expectation of further govt stimulus. As per data, the level of the Index of Industrial Production (IIP) came in at 4.3% for the month of July as against 1.1% in June. Meanwhile, the Consumer Price Index (CPI) based inflation rose to a 10-month high of 3.21% in August. Meanwhile, Indian rupee also continued to sound footing against the US dollar.