Indian Benchmark Indices Close the Week on a Strong Note

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

You May Also Like
Gold Jewellery

24K Gold Rate in India for October 2019: Week 3

The week commenced with the gold rate in India holding at Rs.38,300…

Is income tax applicable on Bonus Income?

Did you know that tax deductions don’t apply for the incentives and…

24K Gold Rate in India for July 2019: Week 5 (29 – 31)

Trading commenced for the final week with gold price in India holding…
Gold rate

24K Gold Rate in India for February 2020: Week 4

When trading opened for the week, 24K gold rate in India was…