Stock market wrap: From Nifty at all-time high, FIIs, DIIs action to most buzzing sectors, what drove market this week — All you need to know
Interestingly, the Indian markets marched forward despite selling pressure from FIIs and DIIs in the three of the four days trading sessions were conducted on BSE and NSE.
Indian stock markets scripted history on Thursday as there were many firsts on this week. The last trading session of this week shortened by holiday on Thursday on account of Dussehra. In a first, the Nifty breached 18,300 and created a record high of 18,350.75.
All major indices saw business at record levels. Interestingly, the Indian markets marched forward despite selling pressure from FIIs and DIIs in the three of the four days trade. Besides, domestic markets also braved volatile and sluggish global cues and witnessed buying action in majority of the indices.
The Tata Motors-TPG deal fueled action in the Tata Group shares and the auto sector in general, while TCS not meeting street's expectations triggered profit booking in IT shares. However, the action returned in IT stocks on the back of relatively good September quarter for Wipro Limited and Infosys, as the former shares became top gainer at the market open, while it closed second only after Adani Ports on the Nifty50 index on Thursday's closing.
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However, Tata Motors shifted to top losers' corner of the index with over 2% loss on the last trading day of the week.
Besides, action was also seen in power and banking shares due to coal shortage and Tata-Air India deal.
Stock Market wrap this week:
Market this week
Sensex: + 2%
Nifty Bank: + 4%
Mid Cap Index : +3.4%
Sectors that jumped the most this week:
Nifty PSU Bank: 6.53%
Nifty Auto: 6.5%
Nifty Metal: 6%
Nifty PSE: 4%
Sector That dragged The Most This Week
Nifty IT: 1.9%
Nifty Top Gainers This week
Tata Motors 30%
Top Nifty Losers This Week
HCL Tech : 6%
HDFC Life: 4%
Coal India: 2%
MidCap Shares That Gained This Week
Union Bank: 19%
Indian Bank: 16%
ICICI Securities: 16%
MidCap Shares That Lost This Week
Ajanta Pharma: 3.5%
AB Capital: 3.5%
Godrej Industries: 3%
Big Action in These Shares This Week
Avenue Supermart: 21%
Tata Group Shares Shine This week
Tata Motor: 30%
Tata Power: 26%
Tata Chemicals: 12%
Tata Investment: 14%
Reported by (DEVANSHI ASHOK ASHAR)
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