Eighth Weekly Gain For Sensex; Nifty Misses By 10 Points
Closing Bell
Indian equity markets ended higher for the third straight day, ending the truncated week on a positive note.
The S&P BSE Sensex ended 1.1% higher at 46,973. The index recovered all of Monday's loss to end higher on a weekly basis by 13 points. This is the eighth straight weekly gain for the index. The last instance of the Sensex gaining for eight straight weeks was between December 2017-January 2018.
The NSE Nifty 50 index also ended 1.1% higher at 13,749. However, it fell short of a weekly gain by 11 points resulting in its first weekly loss since October.
Among the sectoral indices, the Nifty Bank was the top performer, ending 1.7% higher and above the mark of 30,000. The other index that did well in today's session was the Nifty Pharma, which ended with gains of 1.2%.
The PSU Bank index ended with gains of 0.6% while the Auto index saw gains of 0.5%.
Broader markets were mixed in today's session. The Midcap index ended with gains of 0.2% while the Smallcap index rose 0.9%.
1,090 stocks on the NSE ended with gains while 795 stocks declined.
Decoding The Markets This Week
Buzzing Stock: Whirlpool of India
- Top gainer on the Nifty Midcap index
- Trades at a record high
- Gains as much as 12% to Rs 2,534
- Biggest single-day gain since November 2014
- Up for the third straight day
- Today's volumes are eight times its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 76
- Four out of the 12 analysts tracking the stock have a buy recommendation; six sell calls
- The stock is trading 24% higher than its 12-month Bloomberg consensus price target of Rs 1,920.1
In Focus: Aurobindo Pharma
Changing Consumer Behaviour
Markets At 2:10 P.M.
- Benchmark indices trade near the day's high; nearly pare all of Monday's losses
- Nifty up 0.9% at 13,720
- Sensex up 0.9% at 46,856
- Nifty Bank up 2% at 30,468
- Nifty Midcap index up 0.3%
- Nifty Smallcap index up 0.9%
- India Volatility Index down 2.7% to 19.9
- Nifty PSU Bank index is the other major gainer; up 1.3%
- Other sectoral indices like Nifty Metal, Nifty Pharma up 0.6% each
- Nifty I.T. is the top sectoral laggard; down 0.8%
- Tata Motors is the top Nifty gainer; up 3.7%
- Infosys remains the top Nifty laggard; down 1.6%
- 1,137 stocks on the NSE trade with gains while 717 decline
