These 15 BSE500 stocks rally up to 28% during the week as bulls rule Dalal Street

New Delhi: Bulls had an upper hand on Dalal Street during the week. However, the gains were trimmed in the benchmark indices, thanks to the u-turn in them on Friday as investors dumped banking names.

However, on a weekly basis, BSE Sensex and Nifty 50, gained about 1.5 per cent each, whereas BSE midcap and smallcap indices gained 1 per cent and 3 per cent, respectively.

Among the BSE's sectoral indices, the Energy and Reality sector rose 5 per cent each, whereas IT index zoomed over 4 per cent. Power and utility index led the losers with 4-5 per cent cut, followed by 2 per cent fall in healthcare stocks.

Vinod Nair, Head of Research at Geojit Financial Services said that after a gap-up opening, domestic indices struggled but managed to maintain the gains. Two factors for the bounce were a reduction in FIIs selling due to good earnings in the US and maintenance of domestic inflows.

"High-frequency data like GST collection and PMI have shown a good start to FY23. Elevated crude oil prices, GDP data and FII selling, and upcoming central bank meetings were other factors that drove the market during the week," he added.

However, gainers were more in numbers during the as more than 335 stocks from BSE 500 settled in green, whereas others settled in red. More than 30 stocks rallied between 10-28 per cent, whereas only five of them posted double digit cuts.

Upbeat results for Timken India (28 per cent up), Fine Organic Industries (23 per cent up) and 3M India (21 per cent up) pushed the counters higher. However, the results for the period ended March 2022 are over now.

Mumbai based real estate player Macrotech Developers was among the top gainers as the counter rose more than 23 per cent to Rs 1090.6, thanks to bullish sentiments for the sectors and company.

According to property consultant Knight Frank India, registration of properties in Mumbai municipal area rose by 78 per cent year-on-year to 9,523 units during the month of May.

Jefferies has decided to introduce property developer Macrotech Developers to its India Long Only portfolio, according to Christopher Wood, Global Head of Equity Strategy at Jefferies.

Century Textiles & Industries also rallied up to 22 per cent to Rs 886.8 from Rs 727.1 during the week ended June 3, 2022 after the company returned to black in the March 2022 quarter.

Brokerage firm B&K securities has maintained its buy rating on the counter with a target price of Rs 1,108, whereas another brokerage firm Uljk Institutional Research has a buy rating with a target price of Rs 1,245 on the stock.

Gainers like Suzlon Energy, Route Mobile, Mahindra Lifespace Developers, Zomato, KPIT Technologies, Lemon Tree Hotels, Oil India, Computer Age Management Services and APL Apollo Tubes jumped between 15-18 per cent each.

Aether Industries, the latest debutant of Dalal street, made its debut on Friday, June 03 at premium of 10 per cent over its issue price of Rs 642. The specialty chemicals firm ended its first session with gains of 21 per cent to Rs 776.75 on BSE.

Other debutants failed to boost investors' morale as premium watch retailer Ethos is 15 per cent down from its issue price of Rs 878, whereas eMudhra, India's largest certifying Authority, is trading flat near its issue price of Rs 256.

Among the losers, Hikal topped the charts as the pharmaceutical firm dropped 23 per cent to Rs 292.8 per cent. The drug maker hit its new 52-week lows after disappointing performance in the March 2022 quarter.

Gautam Adanis's three counters were among the top five losers of the week. Adani Green Energy (14 per cent down), Adani Power (13 per cent down), Adani Transmission (11 per cent down) hurt the investor's wealth.

Some shares that are part of billionaire Gautam Adani’s conglomerate took a beating as investors adjusted their holdings to reflect changes in the composition and weighings in the MSCI India Index.

After the sharp erosion in the wealth of Ahmedabad-based industrialist, Mukesh Ambani has surpassed Gautam Adani to regain the spot of Asia's and India's richest man as Reliance Industries shares surged close to 8 per cent during the week.

Brightcom Group was another top loser with a 14 per cent fall despite the strong results in the March 2021 quarter as the bonus shares issue by the company got listed during the week, diluting the share capital of the company.

Yesha Shah, Head of Equity Research, Samco Securities said that inflation being a key factor will be the central point of all discussions in the coming week as China and United States’ inflation statistics will be released.

"For domestic markets, the outcome of the RBI MPC meeting will be significant. Market participants will try to read between the lines of the RBI's monetary policy and the street expects a 35-50 bps repo rate hike this time," she added.

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