Indian Stock Market Weekly Wrap-Up: Top Gainers and Losers (18-22 Dec 2023)
Indian stock market indexes ended higher on Friday for the second consecutive day, but that was not enough to reverse Wednesday’s losses, markets ended this week in the red, snapping a seven-week winning streak. Sensex and Nifty gained three out of five trading sessions this week. The BSE Sensex was down 376.79 points or 0.53% and settled at 71106.96, while the NSE Nifty lost 107.25 points or 0.50% and closed at 21349.40.
Among the sectors, Nifty FMCG, Pharma, and Energy were advanced this week, while Media, Auto, and Bank fell the most. In the broader markets, Nifty mid and smallcap indexes closed lower by 1.08% and 0.27% respectively.
After buying heavily in the previous week, foreign investors turned net sellers this week in the Indian equity cash segment and offloaded shares worth Rs 6422.24 crore this week. Meanwhile, DIIs turned buyers after selling in the previous week and bought shares worth Rs 9093.99 crore
Indian Stock Market Weekly (18-22 Dec) Summary
Indian stock markets started the week with minor cuts on Monday after gaining for the seventh consecutive week on Friday. The sentiments were subdued following weakness in Asian markets after Friday’s hawkish comments from the Fed official.
The markets ended with marginal gains on Tuesday, as the IMF expected India’s GDP to remain strong in FY24 and contribute over 16% of the global growth. The domestic rating agency ICRA also raised the FY24 GDP growth forecast from 6.2% to 6.5%.
The equity benchmarks fell sharply on Wednesday after hitting a new record high in the early trade. The selloff was due to profit-taking resulting from the recent robust rally. The surge in crude oil prices and FII’s consecutive selling for two days prompted investors to cash on some profits on Wednesday.
Indian stock markets bounced back from the day’s lowest point on Thursday, as investors bet on recent beaten-down stocks. Some caution was there in the markets ahead of US GDP data which was due on Thursday. On Friday, Indian markets extended their previous session gains tracking the robust rally in the US markets overnight.
Top Nifty 50 Weekly Gainers and Losers
The top five Nifty 50 weekly gainers were Britannia (5.03%), Nestle (4.11%), Tata Consumer (3.99%) Coal India (3.79% ), and Wipro (3.61%).
The Nifty 50 weekly losers were Adani Enterprise (6.13%), Mahindra & Mahindra (5.26%), HDFC Life (4.94%) UPL (4.78%), and Adani Ports (4.73%)
The top Nifty Mid-Cap weekly gainers were Oil India (15.43%), Bharat Dynamics (12.90%), Voltas (10.21%), Guj Flurochem (9.74%), and Delhivery (8.21%)
The losing stocks in the Nifty Mid-cap index were Indian Bank (9.19%), Union Bank (7.83%), Bandhan Bank (7.49%), Dalmia Bharat (7.10%), and M&M Finl (6.73%).
The top Nifty Small-cap index weekly gainers were Hind Copper (20.92%), JB Chem and Pharma (14.02%), Piramal Pharma (11.60%), HFCL (10.66%), and Cyient (8.62%).
The weekly losers in the Nifty small-cap index were IIFL Fin (11.72%), City Union (8.75%), Amber Enterprises (8.12%), SJVN Ltd (6.85%), and RBL Bank (6.84%).
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