The Government’s reforms drive has been powering the rally in Indian shares for the past few sessions. The same story was repeated this week as well, with the BSE Sensex crossing 19,000 and the NSE Nifty surpassing 5,800.
More policy measures cannot be ruled out in the coming days, as the Government tries to shore up investor confidence as part of efforts to boost growth. Corporate earnings and management commentary will be keenly analysed for clues on meaningful improvement in business sentiment. In terms of data points, watch out for the latest IIP and inflation numbers apart from the Government’s policy action(s).
Globally, markets are in a consolidation mode following the monetary stimulus driven ‘risk-on’ rally. US jobs data on Friday could have a bearing on the global mood as will developments out of Europe and China.
US presidential election, leadership change in China and Gujarat election are the other important events to keep on one’s radar in the coming weeks and months.
For the week, the BSE Sensex and the NSE Nifty ended at 18,938 and 5747 respectively adding ~0.7% each.
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Sensex top gainers: The top gainers in the Sensex were Ambuja Cements (up 7.1%), Reliance Capital (up 6.9%), BHEL (up 6.9%), Reliance Power (up 5%) and Tata Motors (up 4.9%).
Sensex losers: The top losers in the Sensex were Cipla (down 4.2%), Hero Motocorp (down 3.7%), HDFC (down 3.2%), Tata Power (down 2.8%) and Wipro (down 2%).
The BSE IT Index (down 0.3%):The top gainers in the IT sector were Financial Tech (up 2.4%), TCS (up 0.6%) and Oracle Financial (up 0.6%).
The top losers were Sasken Communication (down 2.6%), Wipro (down 2%), Mahindra Satyam (down 1.6%), HCL Tech (down 0.7%) and Infosys (down 0.3%).
The BSE Healthcare Index (down 1.5%):The top losers in the Pharma were Ipca Labs (down 8.5%), Cadila Healthcare (down 6.2%), Glenmark Pharma (down 5%), Lupin (down 4.7%) and Cipla (down 4.2%).
The top gainers were Marksans Pharma (up 18.8%), Natco Pharma (up 3.3%), Dr Reddy's Labs (up 3.1%), Morepen Labs (up 2.7%) and Orchid Chem (up 1.3%).
The BSE Auto Index (up 0.8%):The top gainers in the auto space were Hindustan Motors (up 7.5%), Tata Motors (up 4.9%), Maruti Suzuki (up 2.7%), Ashok Leyland (up 2.5%) and M&M (up 0.5%).
The top losers were Bajaj Auto (down 4.3%), Hero Motocorp (down 3.7%), Swaraj Mazda (down 1.4%) and Eicher Motors (down 0.4%).
The BSE Oil & Gas Index (up 2.2%):The top gainers in the oil & gas space were Essar Oil (up 19.7%), MRPL (up 12.1%), Jindal Drilling (up 6.3%), Shiv-Vani Oil (up 3.8%) and Indian Oil Corp (up 3.5%).
Cairn India fell 1.5% during the week.
The Telecom Sector: The top gainers in the telecom space were Himachal Futuristic (up 5.3%), Shyam Telecom (up 2.2%), Tata Communication (up 2.2%) and Bharti Airtel (up 0.1%).
The Realty Sector (up 5.6%): The top gainers in the real estate space were Anant Raj Indus (up 12.2%), HDIL (up 11.4%), Ansal Props (up 8.4%), Peninsula Land (up 8.4%) and Mahindra Lifespace (up 6.7%).
The Metals sector (up 0.7%):The top gainers in the metals sector were Adhunik Metaliks (up 6.6%), Sunflag Iron (up 3.6%), Monnet Ispat (up 2.8%), Tata Steel (up 2.4%) and Tata Sponge (up 1.6%).