Sensex increases more than 1% on Diwali week, returns after 2 weekly losses | Latest News Headlines

Sensex increases more than 1% on Diwali week, returns after 2 weekly losses

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Benchmark indices of Indian stocks returned last week after two consecutive weekly losses. Both Sensex and Nifty50 were up more than one percent in a four-day week that ended with a special one-hour Muhurat trading session on Thursday. Real estate and PSU banking stocks were in high demand in a week that posted overall gains. The broader markets also saw significant buying interest.

For the week ending November 4, the Sensex Index was up 760.7 points, or 1.3 percent, to 60,067.6 and the broader benchmark Nifty50 added 245.2 points, or 1.4 percent. cent to close the store at 17,916.8.

The Nifty Midcap 100 gained 3.1 percent for the week, and its small-cap counterpart 2.5 percent.

The highlights of the past week

It was a busy week cut short by the holidays with another set of quarterly earnings from India Inc, monthly car sales, and three IPOs: PB Fintech, SJS Enterprises, and Sigachi Industries.

Auto sales were mixed as the sector continued to battle a global semiconductor shortage.

Strong GST raises amid favorable global signals led to a strong start to the week, although investors globally remained cautious ahead of a key policy review by the US central bank.

Central bank meetings continued to be the center of attention after the Federal Reserve decided to start reducing its massive buying of pandemic-era bonds, and the Bank of England held interest rates steady, frustrating investors’ expectations of a hike.

Troubled Chinese property developer Evergrande completed the delivery of 184 real estate projects in the July-October period. That allayed some of the concerns about China’s real estate market and its potential impact on global financial markets.

All NSE industry indices ended the week with gains, with Nifty Realty up 9.9 percent. The Nifty PSU Bank, Media, Consumer Durables, IT and Metal indices rose between 2.4% and 4.5%.

In the Nifty50 universe, up to 35 scripts posted weekly gains. UltraTech, SBI, Eicher Motors, Grasim and Larsen & Toubro were the main winners. On the other hand, Reliance Industries, Bajaj Finserv, ICICI Bank, Kotak Mahindra Bank and Tech Mahindra were the main laggards.

Ingenious winners

Stocks Weekly change (%)
UltraTech 5.8
OSE 5.8
Eicher Motors 5.3
Grasim Industries 5.2
L&T 5.2
Maruti suzuki 5.1
Indian oil 4.7
Dr. Reddy’s 4.3
Ports of Adani 3.7
Shree Cements 3

Ingenious losers

Stocks Weekly change (%)
Dependency industries -3.8
Bajaj Finserv -2.2
ICICI Bank -2.1
Kotak Mahindra Bank -2
Tech Mahindra -1.8
Sun Pharma -1.5
Mahindra and Mahindra -1.2
Britannia -0.8
Aaxis Bank -0.7
Nestle -0.5
Wipro -0.5

In the Nifty Midcap 100 and Smallcap 100 packages, Canara Bank, Oberoi Realty, Varun Begerages, Mazagon Dock and Lux ​​Industries, which increased between 10.9% and 17.1%, were the top earners. On the other hand,

IRCTC, Whirlpool, Laurus Labs, Sequent Scientific and Radico, with cuts of between 7.1% and 10.8%, were the main losers.

Approximately 390 scrips The BSE 500, the broader indicator of the stock market, rose during the week.

The road ahead

In the next week, macroeconomic data, quarterly earnings and activity in the primary market will be in focus.

More than 2,000 companies are due to report their financial results during the week, including Mahindra & Mahindra, MRF, Petronet, Britannia, Aurobindo Pharma and IGL.

Digital payments startup Paytm will launch its initial public offering on Monday, November 8.

Official data on industrial production and inflation will be released on Friday.

Analysts expect the market to remain volatile during the week. Inflation data in the US and China will also be watched for clues.

“As long as inflation remains a concern, even D-Street investors will closely follow the national inflation rate, which has remained within the RBI’s comfort zone. However, an inflation rate that is steadily higher that its tolerance level coupled with the stance taken by the Fed on last week’s interest rate hike may push the RBI to consider taking an aggressive stance and start tightening policies earlier than expected, “said Yesha Shah , head of equity research at Samco Securities.

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Sensex increases more than 1% on Diwali week, returns after 2 weekly losses

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