Indian Stock Market Weekly Analysis: Sensex and Nifty Surged to Record Highs

January 12, 2024 admin

Indian Stock Market Analysis (8 -12 Jan 2024): Indian equity benchmarks ended the week with decent gains on Friday. The benchmarks advanced four out of five trading sessions this week, with Sensex and Nifty reaching a record high at the close. In the week, that ended 12 January, Sensex gained 542.3 points or 0.75% and closed at 72568.45, while Nifty advanced 183.75 points or 0.85% and settled at 21894.55 level.

Among the sectors, Nifty IT and Realty gained over 4% each followed by Energy and Auto, while Nifty FMCG, Financial Services, and Banking declined the most. In the broader markets this week, the Nifty midcap index gained 0.25% while the smallcap index was up by 0.69%

Foreign investors (FIIs/FPIs) turned net sellers in the Indian equity cash segment this week. They offloaded shares worth Rs 3901.27 crore. Meanwhile, DIIs turned to net buyers, they bought shares worth Rs 6858.47 crore during the week.

Indian Stock Market Weekly Summary

Indian stock markets started the week on a muted note on Monday. Markets snapped a two-day winning streak due to profit booking in PSU Banks and FMCG stocks, following negative cues from global peers. The domestic markets ended with minor gains on Tuesday as profit booking emerged after a gap-up opening.

The Indian equity benchmarks closed with decent gains on Wednesday. The last-hour rally due to buying in heavyweights Reliance, HCL Tech, and ICICI Bank supported the domestic markets to close higher. Traders were optimistic due to the hope of a potential easing of US inflation and early rate cuts.

The Indian markets ended with minor gains on Thursday for the third consecutive session. However, volatility was witnessed in the last hour due to cautiousness ahead of the US inflation data released later in the day.

On Friday, Indian markets opened higher despite negative global cues and extended gains as the session progressed. Sensex and Nifty closed at a record high level.

Weekly Nifty 50 Top Gainers and Losers

The top five Nifty 50 weekly gainers were Hero Motors (9.85%), HCL Tech (7.54%), Infosys (5.23%), Reliance (5.13% ), and LTIM (4.87%)

The top Nifty 50 weekly losers were Nestle (4.38%), Bajaj Finserve (3.37%), Divislab (3.26%), HUL (2.90 %), and UPL (2.78%)

Weekly Nifty Mid-Cap 100 Top Gainers and Losers

The top Nifty Mid-Cap weekly gainers were JSW Energy (15.13%), IRFC (12.56%), Macrotech Developers (10.77%), Rail Vikas (10.07%), and Bank of India (8.62%)

The top losing stocks in the Nifty Mid-cap index were Polycab India (26.30%), ZEEL (11.69%), Bandhan Bank (8.56%), Navin Fluorine (7.53%), and Vodafone Idea (7.31%).

Weekly Nifty Smallcap Top Gainers and Losers

The top Nifty Small-cap index weekly gainers were Easy Trip Planner (19.93%), MRPL (18.75%), Amber Enterprise (11.67%), BLS Enternat (11.27%), and Cochin Shipyard (10.64%).

The top weekly losers in the Nifty small-cap index were KEI International (11.60%), Anupam Rasayan (10.38%), Metropolis (10.19%), Apar Industries (8.74%), and PVR Inox (7.45%).

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