Weekly market update (26th May – 29th May).

Overall Performance:

This week, Indian stock market almost observed a volatile week, but market re-gained in the second half of the week. The S&P BSE SENSEX crossed 32,000 and NIFTY reached 9,550 mark. Even after increasing COVID-19 cases, market recovered due to many reasons such as the increase in institutional buyers, domestic GDP data release and growth of US market this week.

On Tuesday 26th May, SENSEX opened at 30,672.59 and closed at 30,609.30 (down by 63.29) while, on Friday market closed at 32,424.10 up by 90.25 points or 0.95 percent. When compared with opening price on Tuesday, SENSEX gained around 5.7 percent this week. While, on the other hand, NIFTY opened at 9,039.25 and closed at 9,580.30 on Friday, up by 6 percent.

The S&P BSE Mid-cap index gained 5.08 percent and 18 stocks increased around 10 to 30 percent which includes stocks such as Godrej Properties, Jindal steel and powers, Future Retail limited, RBL bank, The Federal Bank and Adani Powers. The S&P BSE Small-cap index gained 3.5 percent in this week and 94 stocks in small cap gained around 10 to 30 percent such as Birla Corporation Ltd, Skipper limited, Subex, Alok Industries, Orient cement and JBF Industries limited.

Global indices, commodities and currency:

DAX was trading at 11,462.39 up by 71.11 points or 0.62%, on Tuesday while today it is trading at 11,586.85 down by 194.28 points. NASDAQ was trading at 9,324.59 up by 39.71 points or 0.43% while now it is trading at 9,489.87, up by 120.88 and CAC was trading at 4,594.76, up by 1.21% or 54.85 points, now trading at 4,695.44 down by 75.95 points.

When market closed on Tuesday, Gold was trading at 46,760 down by 218 points and 0.46% and now trading at 46,654. Silver was trading at 48,525 up by 268 points and 0.56% currently trading at 50,118 up by 1,560 points.

On Tuesday, at the time of closing of Indian indices, USD was trading at Rs 75.66 which is now trading at Rs 75.61. EURO was trading at Rs 82.91, currently trading at Rs 83.89 and GBP was trading at Rs 93.09 which is now trading at Rs 93.29.

Sector wise:

This week major gains was seen in Banking, Financial and Auto Sector. NIFTY Bank increased by 2,018.35 points (in this week, comparing to the opening price of Tuesday), closed at 19,297.25.

Top 5 gainers:

This week, Share price of Zee Entertainment increased by 19.23% or by 29.60 points, closing at Rs 183.55, Eicher Motors gained 17.45% or 2460.85 points, closing at Rs 14,087.60. Shares of Larsen and Tourbo jumped by 13.26 percent or 111.75 points, closing at Rs 932.25. IndusInd Bank share price increased by 46.85 points or 13.51 percent, closing at Rs 393.65 this week, and share price of Coal India gained 16.80 points or 13.49 percent and closed at Rs 141.30.

Top 5 losers:

Tata Communications share price fell by 4.72 percent or by 23.60 points and closed at Rs 476.65. This week, share price of CRISIL decreased by 4.42 percent or 63.80 points, closing at Rs 1378.30, and Ashok Leyland fell by 4.17 % or 1.85 points, closing at Rs 42.50 shares. Adani Transmission declined by 3.98 percent or 7.25 points, closing at Rs 174.90 and share price of Edelweiss Financial declined by 3.36% or 1.65 points and closed at Rs 46.05 on Friday.

Stocks in news:

28 stocks hit their 52 week low this week which includes IIFL financial services, AU small Bank Finance, Chennai petroleum corporation, Bajaj finance, Union bank of India, India bulls Integrated and power finance Corporation. After google announced to enter in the telecom business in India through Vodafone, shares of Vodafone gained around 18 percent. Birla Corporations increased by 25% after they declared their Q4 results. Shares of Eicher Motors jumped by 17.45% or 2460.85 points after they announced stock split plan and on Friday closed at Rs 14,087.60. Wipro also gained around 12 percent and was in news as they appointed Thierry Delaporte as their new CEO and MD of the company. Other than these stock, most active in terms of volume includes stocks such as Vodafone Idea, Bharti Airtel, IDFC First Bank, Bank of Baroda, Jindal Steel, ITC, ICICI bank, Adani power, Tata power and SBI.

Market update 29th May 2020. Another positive day for Indian market led by Realty and Pharma stocks.