Indian stock markets ended the week 1% higher with the Sensex and the Nifty hitting record-high levels during the week. The markets posted a weekly gain after three regular weeks of negative weekly appearance. The front-line Nifty closed for the week with a gain of 1.12-percent.
Looking on the Sectoral weekly chart, the Metal, and PSU Bank added 4-pc for the week. Also, the Nifty bank rose 2.7pc, Realty stocks went up 2.2pc and Pharma stocks added 2pc weekly gains.
Shares of Indiabulls Housing on Friday closed significantly higher at Rs.290-per share, up by Rs.44.75 or 13.37% for the day. On a weekly basis, the stock closed 22.4%, as against its last weekend share price of Rs.237.35.
The rising factor behind Indiabulls Housing stock is that the Ministry of Corporate Affairs found no signs fault in the loans cited by a Public Interest Litigation. In addition, the international brokerage CLSA retained BUY call on the Indiabulls Housing Stock and increased its target price to Rs450 per share from Rs350.
The other major Nifty gainers for the week are namely Bharti Infratel, IndusInd Bank, Yes bank UPL and Tata Steel which were up between 5 to 22%. Get Nifty Future and Options tips from the Expert
The top losers for the week, the names include Zee Entertainment Enterprise (ZEEL), L&T, Mahindra &Mahindra, Power Grid, Wipro and Cipla which were down in between 2 to 18%.
Shares of L&T slipped 3.5% after Credit Suisse down-graded L&T stock to NEUTRAL from OUTPERFORM. The research house also reduced the stock’s target price 16% to Rs1,460, from Rs1750.
Among the stock listed in the Mid-cap index, Indiabulls Ventures, Jindal Steel&Power, Union Bank, Torrent Pharma, and LIC Housing Finance were top gainers, up by 10 to15%.
Among losers in the mid-cap listed stocks, DishTV India, Reliance Infrastructure, Reliance Capital, Dewan Housing Finance Corp, Bharat Electronics lost between 4 to 19% for the week. To avail Free Nifty stock Option Tips go to our official site.