NEW DELHI: It was a breathless week for Dalal Street as equity benchmarks hit new highs and rallied nearly 4 per cent. BSE Sensex zoomed 1,504 points to 39,434 as of May 24 from 37,930 on May 17, while NSEs Nifty gained 437 points to 11,844.
Since the beginning of the week, the bulls were in the drivers seat after exit polls projected a comfortable majority for the BJP-led National Democratic Alliance (NDA).
While euphoria over the election results helped Sensex and Nifty cross the psychologically important 40,000 and 12,000 levels for the first time on Thursday, the rally fizzled out as traders booked profit in the later part of the day. However, buying on the last day of the week helped the indices settle at all-time closing highs.
There are expectations that the landslide victory for the BJP will improve business sentiment and outlook for private investment.
Here is a list of top stocks and sectors that kept buzzing through the week.
Stocks that rallied up to 29%
As many as 118 stocks on the BSE500 index managed to deliver over 10 per cent returns to investors during the week gone by. They included Timken India (up 29 per cent), KEI Industries (27 per cent), Reliance Power (27 per cent), Dilip Buildcon (up 25 per cent) and JK Cements (up 23 per cent).
10 scrips that cracked
Just 10 stocks on the BSE500 declined over 5 per cent during the five sessions. Jubilant Life Sciences declined 14 per cent, followed by Eris Lifesciences (down 12 per cent), Procter & Gamble Health (10 per cent), Torren Pharma (down 7 per cent) and Tech Mahindra (down 7 per cent).
Stocks @fresh all-time highs
Over 25 stocks on the BSE500 index hit fresh all-time highs during the week. The list included several blue chips including Titan, L&T, Axis Bank, HDFC, ICICI Bank, Kotak Mahindra Bank and SBI. DCB Bank, DCM Shriram, City Union Bank, Manappuram Finance and Sunteck Realty also scaled new lifetime peaks.
Scrips at fresh lifetime lows
On the BSE500 index, Central Bank of India, The New India Assurance, Vodafone Idea and Thyrocare Technologies reeled and touched new all-time lows.
Sectoral update: Its all green
Barring the FMCG (down 1.86 per cent) and IT index (down 0.35 per cent) on the BSE, other sectoral indices ended the week in green. The BSE Capital Goods and Realty indices jumped nearly 11 per cent each. Bankex, Telecom, and Power indices rallied over 5 per cent each.
Second-rung stocks on a high
Second-rung stocks outperformed equity benchmark Sensex during the week gone by. BSE Midcap index advanced 4.45 per cent to 14,945 in five sessions, while BSE Smallcap index gained 5.85 per cent to 14,699.
Top Nifty gainer
IndusInd Bank: The private second lender emerged as a top gainer in the Nifty pack during the week gone by with a 20 per cent rise. The stock gained traction after it posted robust top line growth for fourth quarter of FY19. Total income increased 28.88 per cent to Rs 7,550.43 crore in Q4FY19 from RsRead More – Source