IT, financial stocks help Nifty50 log second straight weekly gain…!!!

MinFor the week, the S&P BSE Sensex index gained 1,159.57 points or 2.12 percent and the 50-scrip gauge climbed 290.90 points or 1.79 percent.

• Dalal Street clocked a second straight weekly gain with benchmark indices roaring to record closing highs. IT and private sector financial stocks were at the forefront of the rally that helped the NSE Nifty50 index cross the 16,500 mark for the first time.
• For the week, the S&P BSE Sensex index gained 1,159.57 points or 2.12 percent and the 50-scrip gauge climbed 290.90 points or 1.79 percent. Sensex and Nifty ended the week at record closing highs of 55,437.29 and 16,529.10 respectively.

• Broader indices underperformed the headline indices though many midcap and smallcap stocks recovered from deeper losses seen during the week

  Steps announced by BSE to curb excessive movement in smaller stocks bruised hundreds of midcap and smallcap stocks. But later the bourse’s clarification that the restrictions will be limited to 31 stocks for now provided some relief to the segment.

  The Nifty Midcap 100 and Smallcap 100 indices fell 1.24 percent and 2.20 percent for the week respectively.

  • Steps announced by BSE to curb excessive movement in smaller stocks bruised hundreds of midcap and smallcap stocks. But later the bourse’s clarification that the restrictions will be limited to 31 stocks for now provided some relief to the segment.
    The Nifty Midcap 100 and Smallcap 100 indices fell 1.24 percent and 2.20 percent for the week respectively.
  • On the other hand, pharmaceutical, healthcare, PSU bank and real estate saw selling pressure. The Nifty Pharma and Nifty PSU Bank barometers slumped 3.23 percent and 2.24 percent for the week respectively
  • Nifty gainers

    Stock	Weekly change
    Tech Mahindra	9.39%
    HCL Tech	7.05%
    Power Grid	5.51%
    Bharti Airtel	4.66%
    TCS	4.42%
    Infosys	3.86%
    L&T	3.40%

    Nifty losers

    Stock	Weekly change
    Eicher Motors	-7.37%
    Shree Cement	-6.29%
    Dr Reddy’s	-3%
    Grasim	-2.21%
    Hero MotoCorp	-2.11%
    Cipla	-1.85%
    Maruti Suzuki	-1.45%

  On the other hand, Eicher Motors (down 7.37 percent), Shree Cement (6.29 percent), Dr Reddy’s (3 percent), Grasim (2.21 percent) and Hero MotoCorp (2.11 percent) were the worst hit among the 23 laggards.

  In the midcap space, Tejas Networks, Laxmi Organic, Shriram City, Max Ventures and Jubilant Ingrevia were the top weekly gainers. On the flipside, McLeod Russel, Aurobindo Pharma, Huhtamaki PPL, Sudarshan Chem and Venus Remedies were among the losers