The Indian benchmark indices closed the week on a strong note as the S&P BSE Sensex and NSE Nifty 50 gain over 1.5% each. The buoyant performance of the indices was powered the banking and financial stocks as they were on a bull run over the day.
The S&P BSE Sensex stacked up 548.46 points or 1.50%. It closed Friday at 37,020.14 points. Over this week, the index gained 1.16% or 209.84 points. Among the 30 Sensex stocks, 5 of them ended in the red while 23 of them advanced whereas one stock ended nearly flat (ITC gained a meagre 0.08%).
The shares of ONGC led the gains in the Sensex, Titan Company and RIL as the shot up 3.70%, 3.75%, and 5.52% respectively. The share price of HDFC Bank, Bajaj Finance, ICICI Bank, SBI, and HDFC zoomed 3.46%, 3.04%, 2.64%, 1.13%, and 1% respectively.
Also Read: Closing Bells: Financial Stocks Led Gains in Indian Benchmark Indices
The only losers in the index were Axis Bank, HCL Tech, Infosys, Nestle India, and TCS. They tanked 0.14%, 0.67%, 0.76%, 1.32%, and 1.45% respectively.
The NSE Nifty 50 expanded 1.51% or 161.75 points today. It closed Friday at 10,901.70 points. Every week, the Nifty index jumped 51.7 points or 1.24%. Of the 50 stocks that constitute the Nifty index, only 8 ended the day in the red while 41 of them surged whereas one stock (ZEEL) closed flat.
The BPCL stock led the upward run of the index by gaining a massive 12.43%. It was followed by Infratel and GAIL, who shot up 4.32% and 4.08% respectively. Hindalco emerged as the top loser, and it lost 1.90% today. India VIX, the volatility gauge, shed 4.75% or 1.20 points to close the week at 24.16 points.
For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in
Engineer by qualification, financial writer by choice. I am always open to learning new things.
