Weekly market update (1st June – 5th June).

Overall Performance:

This week, Indian Equities followed positive cues as government has lifted certain lock down norms and other reasons such as ECB’s stimulus and strong FII inflows has supported economy to recover. Indian indices gained nearly 6 percent and almost on all days, indices ended on positive note. The S&P BSE SENSEX crossed 34,250 and NIFTY reached 10,140 mark.

On 1st June, SENSEX opened at 32,424.1 and closed at 33,303.52 (up by 879.42 points) while, on Friday it closed at 34,287.24 and increased by 306.54 points. When compared with opening price on Monday SENSEX gained around 5.7 percent this week. On the other side, NIFTY opened at 9,580.3 and closed at 10,142.15 on Friday, up by 5.9 percent.

The S&P BSE Mid-cap index gained more than 5 percent and closed at 11,855.17 on Friday. This includes stocks such as Jindal steel and powers, Future Retail limited, RBL bank, and Adani Powers. The S&P BSE Small-cap index gained around 6 percent and closed at 4,423.10 on Friday and includes stocks such as Birla Corporation Ltd, Alok Industries and JBF Industries limited.

Global indices, commodities and Currency:

Global index DAX was trading at 11,586.85 down by 194.28 points or 1.65% on Monday while today it is trading at 12,847.68 up by 417.12 points. NASDAQ was trading 9,489.87 up by 320 points or 3.36% while now it is trading at 9,814.08, up by 198.27 and CAC was trading at 4,753.87, increased by 1.24% or 58.43 points, now trading at 5,197.79 up by 185.81 points.

When market closed on Monday, Gold was trading at 46,774.00 up by 120 points and 0.26% and is now trading at 45,698. Silver was trading at 50,298 up by 180 points and 0.36%, currently trading at 47,351 down by 1,460 points.

On Monday, at the time of closing of Indian indices, USD was trading at Rs 75.54 which is now trading at Rs 75.58. EURO was trading at Rs 83.90, currently trading at Rs 85.53 and GBP was trading at Rs 93.51 which is now trading at Rs 96.15.

Sector wise:

This week major gain was seen in Banking, Financial, IT, Energy and Auto Sector. NIFTY Bank increased by 1,737.25 points (in this week, comparing to the opening price of Monday), closed at 21,034.50.

Top 5 gainers:

This week, share price of Tata Motors increased by 27.30% or by 23.75 points, closing at Rs 110.75. Bajaj Finance gained 22.35% or 436.70 points, closing at Rs 2,390.35 and shares of Bajaj Finserv jumped by 18.88 percent or 831.50 points, closing at Rs 5,236.40. SBI’s share price increased by 26.50 points or 16.43 percent, closing at Rs 187.80 this week, and share price of Tata Steel gained 43.75 points or 14.82 percent and closed at Rs 338.95.

Top 5 losers:

SRF’s share price fell by 3.77 percent or by 143.05 points and closed at Rs 3,648.00. This week, share price of Indraprastha Gas decreased by 3.16 percent or 15.95 points, closing at Rs 488.75. TCS fell by 2.19 % or 45.80 points, closing at Rs 2,048.10 shares. Tata Communications declined by 2.05 percent or 9.85 points, closing at Rs 470.10 and share price of Marico declined by 2.01% or 6.70 points and closed at Rs 326.45 on Friday.

Stocks in news:

This week many stocks locked in the upper circuit which includes shoppers shop, IDBI Bank, Canara Bank, HEG, Adani Green Energy and KEI industries. Major gain was seen in Banking, Finance and Auto sector in this week. Bajaj Finance and Bajaj Finserv were in news as share price of their company increased by 436.70 points and 831.50 points, closing at Rs 2,390.35 and Rs 5,236.40 respectively. In auto sector, major gain was seen in shares of Tata motors as they started operations at all their plants. It increased by 27.30% or by 23.75 points, closing at Rs 110.75.

Shares of SBI increased more than 16 percent after they reported profit of Rs 3,580.81 crore in their Q4 FY20 results and closed at Rs 187.80. Other than these stock, most active in terms of volume includes stocks such as Vodafone Idea, Axis Bank, Bharti Airtel, IDFC First Bank, SAIL, NCC, Bank of Baroda, Tata Motors, Jindal Steel, ITC, ICICI bank, Adani power, Tata power and SBI.

Market update 5th June 2020. Market ends week in a positive way.