Domestic stock markets have gained momentum in the past week, as the transition to the Kovid-19 has slowed and declines in active cases. Over the coming week, the market will keep track of Kovid’s graph. There has been a significant decrease in new epidemics in the last one week, yet the number of cases is coming to India every day. These have dropped to about 2.5 lakh. The reduction in active cases is expected to loosen the restrictions imposed by various states. Investors are confident that the economy will rebound faster. In the case of Kovid-19, if the recession continues, the stock market graph could go up.
During the week of review, there was an all-encompassing purchase in the market. Investors have invested heavily in banking and financial sector companies. The benchmark Sensex and Nifty were volatile for the past week. The 30-share Sensex, the 30-share index of the BSE, finally reached the weekly high of 1,807.93 points, or 3.71 per cent, at 50,540.48 points. Three of the five trading days Sensex gained momentum when the red mark closed on Wednesday and Thursday.
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The Nifty graph was similar to the Sensex. It gained 497.50 points, or 3.39 per cent, to 15,175.30 at the weekend. On the BSE, the index of medium and small companies ended with a five-day gain. In the whole week, the midcap rose 899.75 points, or 4.39 percent, to 21,485.75 points. SmallCap closed the week at 23,130.40 with a strength of 929.86 points or 4.19%.
Of the 30 companies, 24 are above the green mark
In the week of review, 24 out of 30 Sensex companies have hit the green mark. Shares of IndusInd Bank were up 14.01%. State lenders in banking and finance were 11.26 per cent in State Bank of India, 7.92 per cent in HDFC Bank, 7.57 in ICICI Bank, 6.66 in Axis Bank, 5.68 in Bajaj Finance, 3.68 in HDFC, 2.88 in HDFC, 2.88 in Kotak Mahindra Bank and 2.94 in Kotak Mahindra Bank. This is an increase of 2.75 per cent.
Mahindra & Mahindra shares closed at 1.45 per cent, Bajaj Auto at 7.17 per cent and Maruti Suzuki at 1.09 per cent. IT and tech companies have also gained momentum. Tech Mahindra’s shares rose 3.01 per cent, Infosys 2.88 per cent, HCL Technologies 2.24 per cent and TCS 0.97 per cent. There was a mixed trend among FMCG companies. Nestle India’s shares rose 1.59 per cent, ITC rose 1.55 per cent and Hindustan Unilever rose 0.68 per cent. Among companies in the health sector, Dr. Shares of Reddys Lab were up 0.40%. At the same time, shares of Sunfamor were down 0.11%.
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Among other companies, Titan gained 5.71 per cent, Ultratech Cement 4.25 per cent, Reliance Industries 3.31 per cent, Asian Paints 2.12 per cent, NTPC 1.39 per cent and L&T 0.22 per cent. Bharti Airtel lost over 5.29 per cent in the Sensex. PowerGrid’s share fell 0.31 percent and ONGC fell 0.27 percent.