Indian Equity benchmark indices closed with weekly gains of 2.9 percent by Sensex and 3 percent higher by Nifty and also Bank Nifty index up by 2-percent for the week ended Friday, 17-April 2020, clocking two consecutive weekly gains for markets.
Looking on weekly index chart Nifty the week during April 13 to 17, IndiaBulls Housing Finance (IBHF) gained best weekly gain by 33.6-pc, IndusInd Bank added 15.68-pc, Axis Bank gained 15.6-pc, ICICI Bank advanced 13.6-pc, and UPL went up 11.08-pc each for the week and was among top weekly gainers on the Nifty.
Though Bajaj finserve closed higher by 11.3-pc for the week, the other weekly gainers were Eicher Motors-up by 10.2-pc, Shree Cement up by 9.5-pc, and Hindalco Industries gained by 9.1-pc for the week. Track the best weekly stock tips, and Week Ahead stock updates from the expert.
On Friday, Sensex rose by 986.11 points or 3.22-pc to end at 31,588.72 and Nifty ended at 9,266.75 up by 273.95-pts or 3.05-pc.
In major steps to control the volatility, the RBI has newly announced two sets of relevant steps in the credit policy. The one is to spotlight on provision of liquidity and the other is to boost the solvency issue related to companies.