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Real estate industry

Indian Stock Markets Post Biggest Weekly Gains Since March

Strategic Insights

— 1 min read

Indian stock markets extended their gains for the third consecutive day on Friday, led by a rally in realty and metal stocks, as well as positive global sentiments. The benchmark BSE Sensex advanced 1.18 percent, while the 50-share NSE Nifty rose 1.27 percent. This marked the biggest weekly gain since early March, despite a monthly loss of nearly 4 percent.

Key Takeaways:

  • The BSE Sensex advanced 1.18 percent or 196.66 points to 16,863.06, its biggest weekly gain since early March.
  • The 50-share NSE Nifty rose 1.27 percent or 63.45 points to 5,066.55 and ended above its 200-day moving average value.
  • Realty and metal sector indices recorded more than 3 percent gains, while Fmcg sectors recorded more than 2 percent.
  • Reliance Communications, Sterlite Industries, and Jindal Steel were the top Sensex gainers, with Anil Ambani-led Reliance Communications surging 5.93 percent.
  • Parsvnath developers, HDIL, D B Realty, and Orbit Corp. helped the realty sector gain 3.92 percent, with Parsvnath developers climbing 11.11 percent.
  • Heavy-weighted Reliance Industries gained 1.17 percent after discovering oil in one of its exploration blocks, while Apollo Tyres climbed 7.14 percent after its fourth-quarter net profit soared 151.50 percent.
  • The overall market breadth was positive, with 1,923 advances against 892 declines.
  • Maruti Suzuki, HDFC Bank, Larsen and Toubro Ltd., and Reliance Infrastructure were the only Sensex losers, with Maruti Suzuki declining 0.78 percent.

Statistics:

  • BSE Sensex advanced 1.18 percent or 196.66 points to 16,863.06.
  • NSE Nifty rose 1.27 percent or 63.45 points to 5,066.55.
  • Realty sector index gained 3.92 percent to 3,123.87.
  • Metal sector index climbed 3.54 percent to 15,106.96.
  • Reliance Communications surged 5.93 percent to 147.45 rupees.
  • Parsvnath developers climbed 11.11 percent to 124.55 rupees.
  • Heavy-weighted Reliance Industries gained 1.17 percent to 1,033.85 rupees.

Sources:

  • "India getting USD 50-75 billion fund flow in 5 years, says Keshav Sanghi of Citigroup" - MoneyControl.com
  • BSE Sensex and NSE Nifty data - Bloomberg Terminal

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