Sensex, Nifty closed higher, Nifty midcap 100 underperformed on a weekly basis

 

Sensex, Nifty, Bank Nifty, Midcap & SmallCap 100, weekly updates: Indian stock market closed at seven months higher as macro data and global cues boosted the market sentiments. The benchmark equity indices closed in positive notes on a weekly basis. The Sensex closed higher by 1906.31 points or 4.93% and at 40585.36 levels while Nifty gained 521.65 or 4.58% and closed at 11938.6 levels.

The Bank Nifty on the spot levels gained 1658.1 points or 7.47% and closed at 23904.10 levels. The Nifty midcap 100 and smallcap 100 indices closed mixed during the week. The Nifty midcap 100 fell 31.75 points or 0.19% and closed at 17093.25 whereas the Nifty smallcap 100 closed marginally higher in the last week. The smallcap index gained 15.45 points or 0.26% and ended at 5876.6 levels.

 

Nifty top gainers and losers

 

Weekly NSE Nifty Top Gainers
Company Name	LTP	Previous Close	Change (%)
Wipro	374.00	313.05	19.47
TCS	2812.95	2523.45	11.47
HDFC Bank	1233.55	1106.95	11.44
HDFC	1957.65	1790.65	9.33
Infosys	1106.80	1017.65	8.76
Weekly NSE Nifty Top Losers
Company Name	LTP	Previous Close	Change (%)
Power Grid Corp	158.00	164.60	4.01
Bajaj Finance	3317.90	3442.80	3.63
GAIL	85.70	88.40	3.05
NTPC	82.90	84.90	2.36
Hindalco Industries	170.00	174.10	2.35

 

Nifty midcap 100 & smallcap 100 gainers & losers

 

Weekly NSE Nifty Midcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
Mind Tree	1504.25	1336.30	12.57
Au Small Finance	741.00	666.00	11.26
Weekly NSE Nifty Midcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
Future retail	78.30	90.20	13.19
Coromandel Inter	723.40	792.80	8.75
Weekly NSE Nifty Smallcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
Thyrocare Tech	1068.85	757.75	41.06
Infibeam Avenue	87.95	75.10	17.11
Weekly NSE Nifty Smallcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
Amber Enter	1872.65	2043.85	8.38
Deepak Nitrate	763.45	819.40	6.83

 

Indian market news last week

 

Indian markets ended the week in an optimistic note. The markets gained all the five trading days of the week. On the domestic front markets gained with the news of growth in exports, a decline in the unemployment rate. The market sentiments remained positive on the first day of the week after the Centre has agreed in the Supreme court to waive compound interest up to 2Cr loan for individual borrowers and MSMEs during the six months moratorium period.

The Markets continued to gain on Tuesday as India’s Markit Service PMI index data came positive for September compared to the previous month. However, traders were cautious as Fitch Rating stated that Indian Banks likey to face a tough operating environment due to stressed loans and write-offs.

Some volatility in the market was seen on Thursday after the news flashed that the World Bank has estimates that India’s GDP to contract 9.6% in 202-21, earlier they had forecasted a 3.2% contraction in FY21 and 5.4% growth for FY22.

The RBI policy outcome on Friday morning has created some volatility in the Bank Nifty futures for some time. RBI has maintained the status quo on key lending rates and maintained an “accommodative” stance. The market jumped after RBI’s statement that economic growth is slowly coming back after phase-wise unlocking. 

 

 

Global market news updates

 

The US markets jumped on a weekly basis as investors seem to be more optimistic due to the new round of stimulus talk. The investors kept a close eye on the on and off negotiation of the coronavirus stimulus package. The US market sentiment has also boosted after President Donald Trump recovered from COVID-19 and discharged from the hospital last Monday.

The European markets gained while following global peers during the week. The hopes of the US stimulus package helped the European markets to trade higher amid a rise in coronavirus cases in the Europen region. Traders were concern about the news of the UK’s gross domestic product (GDP) that rose 2.1% sequentially in August. This is as compared with 6.6% in July whereas France’s economy rebounded strongly as per the data released 9th October end week.

In the Asian markets, the Japanese stock market recorded the best weekly returns in the last two months. The BOJ governor affirmed that the fiscal and monetary stimulus measures have been effective and the economy is starting to recover.

China’s stock market gained on Friday after being on holiday from 1st October to 8th. The private Caixin Service PMI rose to 54.8 in September from 54.0 in August.

 

Q2 Results of Nifty50 stocks

 

The IT and Software major TCS has reported a 7% drop in their net profit to Rs 7475 cr in Q2 FY21. This is as compared to Rs 8042 cr in the same quarter last year. The net income of the company increased by 4.9% on a YoY basis to Rs 8433 cr

On 5th October TCS has announced a buyback offer which has approved on the board meeting on 7th October. The Board has approved a Rs 16000 crore buyback proposal at Rs 3000 per share. The share price of TCS reacted strongly after the Q2 earnings.

 

Weekly FIIs and DIIs updates

 

FIIs were the buyers and DIIs were the seller in the cash market segment during the week. FIIs bought Rs 3370.55 cr whereas DIIs sold Rs 2389.43 crores. On the last day of the week, FIIs sold Rs 39.39 cr whereas DIIs bought Rs 126.61 cr in the cash market.

 

Conclusions:

The Indian stock market gained all trading days in the week due to the encouraging Q2 earnings and positive global cues. Only large-cap stocks performed last week, the participation from the Nifty midcap 100 and smallcap 100 indices was muted during the week. The earning season has just started and it will play an important role to set the market direction next week.

 

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You can read “the key factors that will impact the market next week” report tomorrow. 

 

Happy Investing!!

Editor’s Desk