Buying in pharma, financials as well as oil and gas stocks made domestic equity markets come alive for the week to August 3.
The BSE Sensex advanced 219.30 points, or 0.59 per cent to 37,556.20 on August 3, from 37,336.90 on July 27. The NSE Nifty index added 82.40 points, or 0.73 per cent, to 11,360.80 during the week gone by.
Dr Reddys Labs, Lupin, Coal India, Hindustan Unilever and Power Grid rallied up to 9.50 per cent in the Nifty index last week. Eicher Motors, HDFC Bank, Tata Motors, HDFC and Grasim slipped 1-7 per cent.
Below are the stocks and sectors that made headway during the week.
Reliance Communications: Shares of Reliance Communications rallied more than 5 per cent on Friday after the Supreme Court approved the settlement arrived at between the company and Ericsson India over a payment dispute and asked the Anil Ambani-led firm to pay Rs 550 crore to the other part by September 30.
Relief from ASM: Select companies, including Dilip Buildcon and Venky's India, hogged limelight this week after they moved out of the additional surveillance measures (ASM) framework with effect from Thursday. Venkys India rallied nearly 49 per cent during the past five trading sessions while Dilip Buildcon gained 13 per cent. Bhansali Engineering Polymers, Bharat Seats, HIL, Himadri Speciality Chemical, Man Industries, Goa Carbon and Tinplate Company of India were among those that came out of the ASM framework from Thursday.
New listing: Shares of women's apparel maker TCNS Clothing tumbled over 8 per cent against its issue price of Rs 716 in its debut trade on Monday. After making a flat debut at Rs 715, the stock ended 8.12 per cent lower at Rs 657.80 on the BSE on July 30. The scrip closed at Rs 668.40 on Friday. Shares of HDFC Asset Management Company are set to debut on the bourses on August 6.
Jet Airways: Shares of the airline major plunged 7 per cent on rising concerns over its financial health and pilots on the warpath over proposed pay cuts. Jet Airways, however, on Friday expressed confidence of overcoming the current issues as it said the mismatch between high fuel prices and low fares is the biggest short-term challenge.
Top 5 gainers of the week: Venkys India took it all as the top grosser of the week in the BSE500 index. It was followed by 8K Miles (up 27.56 per cent), Manpasand Beverages (27.49 per cent), Kwality (26.78 per cent) and HDIL (26.15 per cent).
Manpasand Beverages on August 2 reported 1.30 per cent rise in net profit at Rs 36.37 crore for the quarter ended June. The company had posted a net profit of Rs 35.9 crore during the year-ago period. The company is planning to invest Rs 1,500 crore to set up 10 new manufacturing plants in the country by 2020 in its effort to drive volumes, according to PTI.
Top 5 losers of the week: For the week ended August 3, Redington (India) (down 14.04 per cent), SpiceJet (10.52 per cent), Tejas Network (9.53 per cent), Magma Fincorp (9.05 per cent) and Can Fin Homes (8.98 per cent) cut a sorry figure with maximum losses on the BSE500 index.
Sectoral performance: Barring the BSE Auto index (down 0.60 per cent), the rest of the sectoral indices settled the week in the green. The BSE Healthcare climbed nearly 5 per cent, followed by Oil & Gas (up 2.50 per cent), Metal (2.30 per cent), FMCG (2.20 per cent) and Power (2.10 per cent).
@fresh all-time high: As many as 33 stocks on the BSE500 index hit their fresh lifetime highs during the week gone by. The list included stocks such as HEG Ltd, Dabur India, GAIL (India), Havells India, Indiabulls Ventures, IndusInd Bank, Page Industries, VIP Industries, Graphite India, Britannia Industries, Mahindra & Mahindra, Nestle India and Relaxo Footwears.
Cabinet clears LIC-IDBI deal: The Cabinet on August 1 approved Life Insurance Corp's proposed acquisition of up to 51 per cent stake in debt-ridden IDBI Bank. Shares of the IDBI Bank advanced 3 per cent to Rs 61.90 on August 3, from Rs 60.10 on July 27.
Eicher skids: Shares of Eicher Motors, the parent company of motorcycle manufacturer Royal Enfield, slipped nearly 7 per cent during the week amid reports that American motorcycle major Harley Davidson is turning aggressive on Asia and hopes to unveil a lightweight motorcycle for India through an alliance with an Asian manufacturer. The stock came down 6.88 per cent to Rs 26,971 on August 3, from Rs 28,963.80 on July 27.
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