The benchmark equity indices BSE Sensex and NSE Nifty declined over half a per cent during the week gone by amid fears over Indias retaliatory tariffs on US goods, ongoing NBFC crisis, soaring crude oil prices and concerns over poor progress in monsoon.
The Sensex slipped 0.65 per cent to 39,194 for the week ended June 21. The index was at 39,452 on June 14. Similarly, the NSE Nifty dipped 0.84 per cent to 11,724 from 11,823 during the same period.
Below are the top stocks and sectors that buzzed through the whole week:
Top Nifty gainers
ICICI Bank: Shares of ICICI Bank rallied 3.12 per cent to Rs 430.80 on June 21 from Rs 417.75 on June 14. During the week, ICICI Bank and IndoStar Capital Finance entered into sourcing and servicing arrangement to partner in extending credit to small and medium fleet owners to purchase used and new commercial vehicles. Under this partnership, IndoStar Capital Finance will originate and service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing and in turn, ICICI Bank will provide funding to these customers.
Power Grid: Shares of the company advanced 2.72 per cent to Rs 199.90 for the week ended June 21. Power regulator CERC has allowed state-owned transmission utility PowerGrid to offer towers to telecom companies for BTS (base trans-receiver station) installation to improve mobile connectivity, especially in remote rural areas. The move will not only address the issue of deficiency of telecom coverage in the country, particularly remote areas, but this segment could also be a money spinner for Power Grid. Besides, the power distribution utilities will get a share of income, which would eventually reduce the tariff burden on consumers.
Top Nifty losers
UPL: Shares of agrochemicals maker UPL dropped over 11 per cent to Rs 890.10 during the week. According to HSBC Global Research, UPL appears at risk due to its global diversified exposure, but the near-term impact should be non-material.
Yes Bank: The private sector lender remained under pressure after Moodys Investors placed the bank's ratings under review for a possible downgrade citing it high exposure to the struggling NBFC and realty sectors. The agency said the ongoing liquidity pressures on finance companies will negatively impact the credit profile of Yes Bank, given its sizeable exposure to weaker companies in the sector. The scrip declined 4.74 per cent to Rs 109.60 on June 21 from Rs 115.05 on June 14.
Stocks that rallied up to 21%
As many as 12 stocks on the BSE500 index managed to deliver over 5 per cent returns to investors during the week gone by. The list featured stocks such as Hexaware Technologies (up 21 per cent), Suzlon Energy (10.17 per cent), Oberoi Realty (7.86 per cent), Syndicate Bank (7.56 per cent) and Dr Lal Pathlabs (7.21 per cent).
23 scrips that cracked
More than 20 stocks on the BSE500 plunged in double digits during the past five trading sessions. Jain Irrigation (down 33 per cent), Eveready Industries (down 21 per cent), Graphite India (down 19 per cent), SREI Infra (down 15.86 per cent) and Manpasand Beverages (down 14.42 per cent) stood among companies that went down over 10 per cent during the week.
IPO update
IndiaMart InterMesh, an online marketplace for business products and services, on Friday said it has raised more than Rs 213 crore from 15 anchor investors by allotting 21,95,038 equity shares at a price of Rs 973, the upper band of its IPO which will open on June 24. ICICI Mutual Fund, HDFC Mutual Fund, SBI Mutual Fund, Birla Mutual Fund, Hornbill Capital Advisers LLP are among the 15 anchor investors.
Stocks @fresh all-time high
As many as nine stoRead More – Source
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