The stock market witnessed robust gains this week. Both Sensex and Nifty climbed nearly 1%, while the Smallcap and Midcap indices also recorded growth. Several stocks saw jumps ranging from 10% to 55%. Investors particularly benefited from the Healthcare, Pharma, and Auto sectors.
Market this Week: This week proved profitable for stock market investors. In 4 days of trading, the Sensex rose by 739 points to close at 80,597, and the Nifty increased by 268 points to settle at 24,631. The market rally was fueled by positive economic data, b corporate earnings, and a softening in crude oil prices. Smallcap and Midcap stocks also delivered b performances. Shares like Yatra Online, NMDC Steel, and JM Financial jumped by over 20%, while some stocks experienced declines.
How the Market Fared
During the week, the Sensex closed at 80,597.66, up by 739.87 points, or 0.92 percent. The Nifty 50 also showed strength, gaining 268 points, or 1.10 percent, to reach 24,631.30.
During the same period, the BSE Large Cap and Mid Cap indices saw gains of around 1-1 percent. While the Small Cap index closed with a modest gain of 0.4 percent, many stocks within this index performed exceptionally well, enriching investors.
Performance of Sectoral Indices
The Nifty Healthcare and Nifty Pharma indices shone the brightest during the week. Both saw gains of around 3.5-3.5 percent. Additionally, the Nifty Auto index rose by 2.7 percent, and the Nifty PSU Bank index gained 2 percent.
However, the Nifty Consumer Durables and FMCG indices saw declines. Both indices were down by 0.5 percent respectively.
The Play of FIIs and DIIs
Foreign investors, or FIIs, remained in a selling mood for the seventh consecutive week. This week, they sold shares worth over 10 thousand crore rupees. So far in August, FIIs have made total sales of ₹24,191.51 crore.
On the other hand, domestic institutional investors, or DIIs, remained buyers for the 17th consecutive week. This time, they bought shares worth 19 thousand crore rupees. So far in August, the total purchases by DIIs have reached ₹55,795.28 crore.
Where the Most Gains Were Made
Over the week, more than 25 stocks saw gains of over 10 percent. Of these, more than 10 stocks gave returns above 15 percent. 4 stocks even increased by more than 20 percent. The biggest gainer was Yatra Online. This stock jumped by 55 percent.
In addition, HBL Engineering saw a gain of 28 percent. NMDC Steel and JM Financial both rose by 21 percent. Rico Auto gave a gain of over 18 percent.
EIH and VST Tillers Tractors showed gains of around 18 and 16 percent, respectively. Sheela Foam also recorded a jump of 16 percent.
Who Suffered Losses
However, not everyone benefited in the market. There were also more than 10 stocks that gave losses of over 10 percent. The biggest decline was seen in PG Electroplast, which fell by more than 17 percent.
NIBE also fell by around 17 percent. In addition, investors suffered losses in several small stocks, although none of these losses exceeded 20 percent.
Why the Market Enthusiasm?
There were several reasons behind the market's strength this week. The latest economic data was better than expected. The quarterly results of several companies prompted investors to buy. In addition, the softening of crude oil prices also provided relief to the market.
The market, which had been suppressed by continuous selling, gained strength due to these factors, and investors bought rapidly.
