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    The week that was in 10 stocks: 204 names that rallied up to 90%

    Synopsis

    Here are top stocks and sectors that created all the buzz during the week gone by.

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    The benchmark equity indices extended their gains for the second straight week following firm global cues and continuous inflows by foreign institutional investors.

    The 30-share Sensex surged 1,863 points or 5.75 per cent to 34,287 for the week ended June 5. Likewise, the 50-share Nifty index gained 562 points or 5.86 per cent to reach 10,142 during the same period.

    Overall, the market kicked off the week on an optimistic note as the country geared up to further open up its economy after several weeks of lockdown to curb the spread of the coronavirus pandemic. Meanwhile, the encouraging statement by PM Narendra Modi that growth in the economy will return soon, further supported sentiment.

    Sudhakar Shanbhag, CIO, Kotak Mahindra Life Insurance Company said, “Gradual release of lockdown measures would also have played its part. However, there is a complete dichotomy between the markets and the economy.”

    Here are the top stocks and sectors that created all the buzz during the week gone by.

    Stocks that rallied up to 90 per cent
    As many as 204 stocks in the BSE500 index delivered over 10 per cent returns to investors during the week. These included IDBI Bank (up 89.16 per cent), Chalet Hotels (62 per cent), Trident (62 per cent), Vodafone Idea (60 per cent) and Shoppers Stop (57 per cent). IFCI, The South Indian Bank, Arvind Fashions, Indian Overseas Bank and Bombay Dyeing advanced between 40 and 58 per cent.

    Scrips that slid over 5%
    Just five stocks in the BSE 500 index plunged over 5 per cent during the week. Responsive Industries lost 10 per cent, followed by Capri Global Capital (8 per cent), Multi Commodity Exchange (8 per cent), Info Edge (7 per cent) and Marico (5 per cent).

    Scrips at fresh 52-week highs/lows
    In the BSE500 index, Alkyl Amines, Biocon, Cipla, GMM Pfaudler, Lupin, Reliance Industries, Sun Pharma, Torrent Power and Aurobindo Pharma were among 19 firms that hit new 52-week highs. On the other hand, Rajesh Exports, Responsive Industries, IIFL Finance and Gateway Distriparks hit new 52-week lows.

    Nifty top gainers
    Tata Motors: With a gain of 27 per cent, Tata Motors emerged as the top gainer in the Nifty pack for the week. Shares of the company gained traction on resuming operations across all its manufacturing plants in the country with Jamshedpur facility also getting approval on May 27, 2020. Around 59 per cent of the company's passenger vehicle showrooms, covering 69 per cent of the retail market has commenced operations. From the supply side, 90 per cent suppliers in the commercial vehicle segment have received permissions to commence. Of the lot, only 60 per cent have been able to start supplies.

    Bajaj Finance: The non-banking finance major stood the second-best top performer on Nifty for the week. Shares of Bajaj Finance advanced 22 per cent to Rs 2390 during the week. Bajaj Finserv (up 19 per cent), State Bank of India (up 16 per cent) and Tata Steel (up 15 per cent) were among other top gainers in the 50-share pack.

    Top Nifty losers
    Asian Paints: Shares of the company declined the most 2.65 per cent in the Nifty pack during the week. Asian Paints witnessed selling pressure amid volatility in the crude oil prices. Higher crude oil prices are negative for paint companies as it is one the key raw materials in paint manufacturing.

    The rise in oil prices led to a muted profitability outlook for paint companies. Oil prices rose after the Organisation of the Petroleum Exporting Countries (OPEC) decided to move up discussions on whether to extend record production cuts to Saturday, indicating that some laggard countries may have agreed to align themselves with the deal.

    Nestle India: Shares of the company declined 2.53 per cent to Rs 17,096 on June 5 from Rs 17,540.80 on May 29. Dr Reddy’s Labs (down 1.14 per cent), UltraTech Cement (down 0.90 per cent) and Hero MotoCorp (down 0.86 per cent) stood among other laggards in the index.

    Sectoral update
    All the sectoral indices on the BSE settled the week in the green with the Realty index gaining the most at 11.12 per cent. It was followed by Consumer Durables (up 10 per cent), Metal (up 9.27 per cent) and Bankex (up 8.77 per cent).

    RIL scales new record high
    Shares of energy-to-telecom behemoth Reliance Industries (RIL) scaled a fresh all-time high of Rs 1,617.70 during the week. However, the scrip jumped 8 per cent to Rs 1,581.70 during the past five trading sessions. The company on Friday said it has raised over Rs 13,640 crore from selling stake in its digital unit to Abu Dhabi-based sovereign investor Mubadala and private equity Silver Lake, taking the cumulative fundraising to Rs 92,202 crore that will help pare debt at the oil-to-telecom conglomerate.

    Broader market outperforms
    Broader markets outperformed the benchmark Sensex, with the BSE Midcap and Smallcap indices climbing 6 per cent and 8.84 per cent, respectively.



    ( Originally published on Jun 07, 2020 )
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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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