The domestic equity market ended the week in the green on better-than-expected macroeconomic data. The BSE Sensex advanced 289 points, or 0.81 per cent, for the week to end at 35,962 on December 14, and Nifty gained 111 points, or 1.05 per cent, to 10,805.
The market kicked off the week on a pessimistic note after assembly poll results in five states showed Prime Minister Narendra Modis popularity may be on the wane. However, sentiments turned positive after Asian Development Bank (ADB) retained Indian growth forecast at 7.3 per cent for this financial year and at 7.6 per cent for FY20.
On the economic front, industrial production measured by the Index of Industrial Production (IIP) surged to an 11-month high of 8.1 per cent in October against 4.5 per cent in September 2018 and 1.8 per cent in October 2017. Retail inflation cooled to a 17-month low of 2.33 per cent in November from 4.88 per cent in the same month last year.
Here is a look at the stocks and sectors that created buzz in the market through the week.
Fortis Healthcare: Shares of Fortis Healthcare posted its biggest intraday fall in over 8-1/2 months on Friday after the countrys top court put its sale to Malaysia's IHH Healthcare on hold. The scrip closed 6.75 per cent down at Rs 141.65 on Friday.
IndianOil: State-owned Indian Oil Corporation on Thursday announced a buyback of 3.06 per cent equity shares at a price of Rs 149 per stock for a consideration not exceeding Rs 4,435 crore. The buyback decision was taken by the company's board meeting held on Thursday. The stock closed nearly 3 per cent higher at Rs 141 on Friday.
YES Bank: The private sector lender remained under pressure as market participants awaited the outcome of board meeting on Thursday. The the bank said the Search & Selection Committee (SSC) and the board are “on track” to complete the CEO selection process within the stipulated timeline given by RBI. The stock advanced 8.58 per cent to Rs 180.35 on BSE for the week ended December 14.
@fresh 52-week highs/lows: In the BSE500 index pack, PVR, Ipca Labs, Wipro, Colgate-Palmolive, HUL, Muthoot Finance and Line India scaled fresh 52-week highs during the week, while Tejas Network, IL&FS Transportation, Orient Cement, Inox Wind, Bajaj Corp, Va Tech Wabag and Oil India hit 52-week lows.
Bandhan Bank: Shares of the lender hogged limelight after the Reserve Bank allowed the private bank to open new branches. The scrip jumped nearly 13 per cent to Rs 533 on December 14 from Rs 472 on December 7.
Sectoral update: Among the sectoral indices on BSE, the BSE Auto index gained 4.50 per cent during the last five sessions, followed by Consumer Durables (3.40 per cent), Oil & Gas (3.40 per cent) and FMCG (2.70 per cent) indices. Other indices also ended the week in the green.
ADAG stocks: Shares of Reliance ADAG companies hogged limelight on Friday after the Supreme Court said it didnt find any wrong doing in the procurement of the 36 Rafale fighter aircraft from France. Shares of Reliance Naval and Engineering closed 16.34 per cent higher at Rs 16.59.
Hero MotoCorp: Shares of the two-wheeler major advanced nearly 10 per cent in last five sessions. Hero MotoCorp gained traction on planning to launch a new fully faired motorcycle. This new motorcycle will be powered by the 200cc motor seen on the Hero Xtreme 200R. This will be Heros fourth motorcycle based on its 200cc engine platform. Of the four, the Xtreme 200R has already been launched while the XPulse 200 and the XPulse 200T adventure bikes will be launched in early 2019. Moreover, in an interesting possibility, the new bike might carry the Karizma tag.
Bajaj Finserv: The scrip rallied over 5 per cent during the week. Most of the financial stocks rallied last week on expectations that the new RBI governor would announce steps to ease liquidity, amid worries that shrinking liquidity will hurt their earnings. According to reports, the new governor could adopt a more lenient stance on liquidity issues the NBFC sector is facing. Besides, possible interest rate cuts and softer monetary policy, both will benefit NBFCs.
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