Markets wrap: Sensex, Nifty post best weekly gains since November 30; Eicher Motors top gainer, Wipro top loser

Eicher Motors shares rose 10 percent this week despite the decline in Royal Enfield's sales for February 2019. Brokerage firms like Citi reduced its target price citing uncertainty on volume growth.

Apart from Eicher Motors, downstream public sector companies HPCL and BPCL rose between 7 and 8 percent as global crude oil prices remained largely in range.

NTPC shares ended 6.3 percent up as the public sector behemoth is seen benefiting from the union cabinet's recent decision on stressed power assets and the Central Electricity Regulatory Commission's move to keep the rate of return on equity on thermal power plants unchanged at 15.5 percent, against expectations of a cut in the rate.

 

ITC shares gained 5 percent this week as the cigarette maker increased the price products in three brands - Bristol, Flake Excel, and Capstan by about 7-14 percent.

Wipro was the top loser this week, falling 8.6 percent, after 26.7 million shares changed hands in a single block deal on BSE at Rs 260 per share.

Zee Entertainment shares also slipped 6.4 percent this week, while HCL Technologies declined 4.1 percent. Other major Nifty losers were Infosys and Tech Mahindra, falling between 4 and 2 percent.

Shares of Advanced Enzyme gained over 26 percent this week on large block deals accounting for 9 percent of the company's shares.

Jaiprakash Power also surged almost 24 percent on power sector related developments in Uttar Pradesh. Suzlon shares climbed 21 percent after block deals on Friday with over 20.26 crore shares changing hands. Vakrangee and HCC were other major mid-cap gainers, rising 15 and 19.3 percent, respectively.

Reliance Communications was the top loser, falling more than 10 percent this week. Dish TV, PFC, Reliance Power were other losers, falling between 3-10 percent.