Indian Stock Market Insights (4-8 Dec 2023) – Gainers and Losers
India stock market indexes ended with significant gains during the week, rising for the sixth consecutive week. The equity benchmarks gained four out of five weekly trading sessions and closed at a record-high level on Friday. Sensex jumped 2344.41 points or 3.41% and closed at a record high level of 69825.60, while Nifty added 701.50 points or 3.46% and settled at an all-time high at 20969.60.
Among the sectors, Energy gained the most, over 7%, followed by Bank and Metal, while Pharma and FMCG sectors slightly declined during the week. In the broader markets, Nifty midcap and smallcap indexes ended higher by 2.35% and 1.16% respectively.
Foreign investors were the net buyers in the Indian equity cash segment. FIIs have bought shares worth Rs 9285.11 crore, while DIIs also remained buyers during the week and they purchased shares worth Rs 4326.47 crore.
Indian Stock Market Weekly Summary
Indian stock markets started the week on solid gain on Monday due to BJP’s impressive 3-1 win in the state elections. The Sensex and Nifty hit a new high on Monday and recorded the biggest single-day gains since October 2022.
The positive momentum continued on Tuesday. The markets ended higher for the sixth consecutive session. Traders shrugged off the concern of India`s service activity data, which expanded slowly in November, according to S&P Global Services PMI.
Indian markets closed higher for the seventh consecutive Wednesday due to foreign institutional buying, as FIIs continued their buying spree in the Indian equity cash segments.
The markets snapped a seven-day winning streak on Thursday and closed with minor cuts, as traders remained sidelined ahead of the Reserve Bank of India’s (RBI’s) monetary policy outcome.
On Friday, the domestic markets closed at record high levels after the RBI announced the last monetary policy of 2023. As widely expected, the central bank unchanged the key interest rates and revised the GDP projections from 6.5% to 7% in FY24.
Top Weekly Gainers and Losers
The top five Nifty 50 weekly gainers were Adani Ports (23.57%), Adani Enterprise (19.45%), Power Grid (8.75%), SBI (7.42% ), BPCL (7.41%)
The Nifty 50 top weekly losers were Divis Lab (2.93%), HUL (1.61%), HDFC Life (1.60%), Bharti Airtel (1.42%), and Hero Motors (1.18%)
The Nifty Mid-Cap top weekly gainers were Adani Power (21.21%), Patanjali Foods (16.32%), Prestige Estate (14.32%), ACC (12.50%), and NHPC (12.06%)
The top losing stocks in the Nifty Mid-cap index were One 97 (25.20%), PB Fintech (4.92%), Lupin (4.42%), Aditya Birla Capital (3.94%), and Dr. Lal Path Labs (3.81%).
The Nifty Small-cap index’s top weekly gainers were CESE(19.40%), RBL Bank(14.84%), Balaji Amines (13.83%), Raymond (9.47%), and Mahanagar Gas (8.72%).
The top weekly losers in the Nifty small-cap index were Balrampur Chini (16.71%), Praj Industries (13.54%), Shree Renuka Sugar (9.84%), Medplus Health Services (8.28%), and Bikaji Foods (4.74%).
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