Domestic equity markets ended first week of July in the green after the Economic Survey projected Indias economic growth rebounding from a five-year low to 7 per cent this fiscal. Softening crude oil prices and the US-China trade war truce also calmed investor nerves globally.
As a result, the benchmark BSE Sensex added 118.75 points, or 0.30 per cent, to 39,513 for the week ended July 5. Likewise, the NSE Nifty index inched higher by 22.30 points, or 0.19 per cent to 11,811 during the same period.
Overall, the market kicked off the week on a positive note after RBI relaxed the leverage ratio for banks to help them boost their lending activities. Market participants remained optimistic despite domestic manufacturing sector losing growth momentum in the month of June. The Economic Survey painted a rosy picture for D-Street which further fuelled the sentiments till Thursday.
However, Sensex and Nifty pared most of their gains on Friday as Budget proposals failed to enthuse investor sentiment. What further dented the confidence was — rating agency Moodys comments which said there are risks of India missing 3.3 per cent fiscal deficit target for the current financial year if tax revenue falls short of the projection.
Below are the top stocks and sectors that buzzed through the whole week.
Shares of IndiaMART InterMESH, an online marketplace for business products and services, debuted on a strong note on Thursday, climbing over 21 per cent against its issue price of Rs 973. The scrip listed at Rs 1,180, up 21.27 per cent from the issue price on the BSE. The scrip settled the week at Rs 1,326.25, up 36 per cent, against issue price on Friday.
Stocks that rallied up to 24%
As many as seven stocks on BSE500 index managed to deliver over 10 per cent returns to investors during the week gone by. The list featured stocks such as Adani Power (up 24.17 per cent), Indiabulls Ventures (22.69 per cent), Indiabulls Housing Finance (19.69 per cent), Reliance Communications (17.42 per cent) and Corporation Bank (12.06 per cent).
30 scrips that cracked
As many as 7 stocks on BSE 500 index slipped over 10 per cent during the past five trading sessions. Quess Corp melted 23 per cent, followed by Yes Bank (19 per cent), KRBL (18 per cent), Thomas Cook (15.48 per cent) and Eveready Industries (12 per cent). CG Power, PC Jeweller and Sadbhav Engineering also tumbled over 10 per cent.
Eveready Industries & YES Bank
Private sector lender YES Bank on Thursday said it has acquired over 9 per cent shares of battery maker Eveready by invoking pledged shares following loan default by a group company. Shares of Eveready Industries declined 12.44 per cent to Rs 70.10 on July 5 from Rs 80 on June 28, while YES Bank tumbled 19 per cent to Rs 88 during the same period.
Stocks hit 52-time high
As many as 35 stocks on BSE500 hit their new 52-week highs during the week. The list included some of the blue-chip stocks such as Bajaj Finserv, Bajaj Finance, HDFC, Power Grid, Bharti Airtel, UPL and State Bank of India. HDFC Bank, Torrent Power, Oberoi Realty, Relaxo Footwear and SRF also scaled new 52-week peaks.
Scrips at fresh 52-week lows
Among BSE500 stocks, Graphite India, Thomas Cook, Quess Corp, Glaxosmithkline Pharma, Castrol India, KRBL, TRead More – Source