Indian Stock Market Review (6-10 Nov 2023) – Spotting the Top Gainers & Losers

November 10, 2023 admin

Indian stock market indexes logged decent gains during the week, rising for the second straight week. The equity benchmarks ended higher in three out of five trading sessions during the week. On a weekly basis, Sensex gained 540.9 points or 0.84% and closed at 64904.68, while Nifty advanced 194.75 points or 1.01% and settled at 19425.35.

The Nifty media and IT sectors ended in the red, while the pharma, realty, and metal sectors gained the most. The broader markets outperformed the benchmarks, as the Nifty mid and smallcap indexes closed higher by 2.89% and 3.09% respectively.

Foreign investors were net sellers during the week, they offloaded shares worth Rs 3105.27 crore in the equity cash segment. Domestic Institutional Investors were the net buyers they bought shares worth Rs 4155.23 crore this week.

Indian Stock Market Weekly Summary

Indian equity markets started the week optimistically amid positive global cues. The ease in US Treasury yields after the previous week’s monthly payroll data boosted the domestic market sentiments on Monday. The domestic market sentiments were further boosted as Fitch Rating revised India’s medium-term growth estimates upward by 70 bps from 5.5% to 62%

However, on Tuesday, markets ended with minor cuts after trading a range-bound session, following negative cues from Asian markets, as China released weak trade data. On Wednesday, Indian markets closed with minor gains due to a sharp fall in crude oil prices.

On Thursday, Indian equity market indexes ended with minor losses amid volatility. Indian stock market indexes erased all the losses on Friday and closed higher ahead of the Diwali Muhurat Trading Day scheduled on 12 November 2023 between 6.15 p.m. and 7.15 p.m.

Weekly Gainers and Losers

The top five Nifty 50 weekly gainers were BPCL (6.25%), Divis Lab(4.3%), L&T (4.29%) Axis Bank (4.05% ), Eicher Motors (3.91%)

Top Nifty 50 weekly losers were Infosys (1.45%), Adani Enterprise (1.11%), Wipro (1.11%), HUL (0.90%), and HCL Tech (0.85%)

The Nifty Mid-Cap top weekly gainers were HPCL (16.07%), Auro Pharma (14.8%), Trent (13.66%), Alkem Lab (13.25%), and Ratnamani Metal (12.38%)

The top losing stocks in the Nifty Mid-cap index were ZEEL(9.57%), Piramal Enterprise (4.04%), Indian Bank (3.33%), JSW Energy (2.82%), and Indus Tower (2.63%).

The top Nifty Small-cap index weekly gainers were Neuland Labs (39.73%), IFGL Refractori (29.13%), Cartrade Tech (25.59%), Apollo Micro (24.23%), and JP Power (23.91%).

Weekly top losers in the Nifty small-cap index were KRBL (6.19%), Zensar Technologies (4.71%), Data Patterns (4.46%), Affle India (4.26%), and Campus Activeware (4.17%).

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