The key benchmark indices – Sensex, Nifty – rose nearly 4% during the week driven by confidence on Lok Sabha elections driven by financials stocks. On Friday, 24-May, the Sensex surged 1504pts points or 3.96% to settle at 39,434.72.
The Nifty50 index jumped 437pts or 3.83% to settle at 11,844.10. The biggest gain during the week was seen on 20-May when the indices gained 3.5% after the exit-polls forecast Modi’ win. The Nifty Midcap index added 5pc for the week.
In the week ended Friday, the BSE Sensex closed 623pts higher at 39,435, while the NSE Nifty50 ended 187 points at 11,844. All sectoral indices, excluding the Nifty IT, ended positive for the week. Nifty IT index declined 1.7%, while the Nifty FMCG was flat. The Nifty PSU Bank index gained ~13% Nifty Realty gained 11% the Nifty Infra gained 9% and the Nifty Bank up 6% for the week.
Among top Nifty gainers, IndusInd Bank added 20% despite weak Q4 results, followed by L&T up 13%, AdaniPorts up 11.75%. Also, SBI, Indiabulls-HF, ICICI Bank and Grasim also advanced in the range of 9 to 11% during the week.
Top losers on the Nifty for the week were TechMahindra, ITC, Dr.Reddys, TCS and Infosys in range of 6 to 2% in range for the week.