Market wrap: 263 of BSE 500 stocks end week in green as FIIs turn net buyers. IT, health scrips shine

Indian stock markets ended the week steady in the absence of any major bad news, with the BSE 500 index gaining 1.3%. Nearly 53% or 263 stocks closed in the green while 226 slipped on a weekly basis. Markets largely maintained their positive momentum, supported by gains in IT stocks, steady buying from domestic institutional investors, and continued inflows from foreign investors.

Top 10 weekly gainers

Out of the 263 stocks that were up during the week, just five managed double-digit returns led by 17% returns by Infibeam Avenues. The next to follow are SpiceJet (16%), Tata Communications (16%), FSN E-Commerce Ventures (Nykaa, 11%) and Divi’s Laboratories (10%).

Others like Yes Bank, Federal Bank, Fortis Healthcare, Max Healthcare Institute and IDFC First Bank were other top gainers with high single-digit returns up to 9.9%.

Biggest laggards

In the BSE 500 index, 226 counters closed in the red. The biggest losers were Restaurant Brands Asia, Aegis Logistics and Advanced Enzyme Technologies which fell 9%, 8% and 7%, respectively. Others like UNO Minda, Godrej Industries, Tata Investment Corporation, Finolex Industries, TCI Express, K.P.R. Mill and Jindal Steel declined between 7% and 6%.

Sensex performance

Sensex’s performed better than the broader index with 1.5% uptick on account of strong performances from HCL Technologies, Eternal and heavyweights like Infosys and Tata Consultancy Services (TCS). Their gains stood at 7.3%, 6%, 4.7% and 4.4% in the pecking order.

The IT bellwether reported a mixed set of numbers with net profit falling below Street’s estimates and revenue beating analyst expectations.

Also Read: TCS Q2 Results: Cons PAT rises 1.4% YoY to Rs 12,075 crore, misses street estimates

In the 30-stock index only 10 counters closed in the red viz. Tata Motors (-5.2%), Trent (-2.6%), and Asian Paints (-0.8%) were the top three weekly losers. Adani Ports and Special Economic Zone (APSEZ), NTPC, Hindustan Unilever (HUL), ITC, Mahindra & Mahindra (M&M), Power Grid Corporation of India and Axis Bank saw marginal falls between 0.70% and 0.14%.

Sector snapshot

BSE Information Technology was the top weekly gainer at 4.3% followed by BSE Telecommunication (2.9%) and BSE Healthcare (2.7%). Others which were higher by 1% or more are BSE Financial Services, BSE Bankex, BSE Realty and BSE Private Bank Index.

Among the worst performers were BSE FMCG (-0.3%), BSE CPSE (-0.2%) and BSE Power (-0.2%). Meanwhile metals, auto, utilities and industrials fell marginally.

BSE Midcap ended with 1.5% uptick while BSE Smallcap closed flat.

FII/DII action

Foreign Institutional Investors (FIIs) changed the course to end up as net buyers this week. The purchased domestic shares worth Rs 3,603 over a five-day period while the domestic institutional investors (DIIs) were net buyers at Rs 8,391.2 crore.

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