Weekly Wrap On Stocks, Top Nifty Gainers and Losers this week

Domestic stocks registered their 4th consecutive weekly loss for week ended Friday 2nd August, weighed by mixed corporate results and FPI fund outflows on the markets, amid govt’s reported discussion on the tax surcharge on FPI.

However, the NSE Nifty ended 0.16pc higher at 10,997.35, while the Sensex closed up 0.27pc at 37,118.22. For the week the Nifty was 2.5pc lower and the Sensex was down 1.88pc, recording their worst weekly decline in 3 weeks.

Top gainers from the Nifty this week include TCS (+4.56%), Bharti Airtel (+2.58%), Asian Paints, (+1.23%) HCL Tech (+0.90%) and Hindustan Unilever (+0.39%).

On the other hand, Indiabulls Housing (-21.57%), Zee Entertainment (-15.45%),Vedanta (-12.86%), Tata Motors & Grasim (-11% each) were the top Nifty losers this week.

For the week ahead, other than corporate earnings, investors would watch out for the results of the monetary policy committee, where most experts forecast a 25 bps rate cut from RBI.

Top Mid-cap gainers on stock include Strides Pharma, Ajanta Pharma, Tata Global Beverages and Voltas, rising by upto 11pc, while top losers on Mid-cap stocks include RBL Bank, Indian Bank, Apollo Tyres and Wockhardt falling by upto 13pc.