Indian equity market rallied higher on Friday, a day ahead of Prime Minister Narendra Modi’s crucial economic review meeting.
The benchmark indexes, the BSE Sensex and the NSE Nifty 50, gained from stability in crude oil prices and the sharp recovery in the Indian rupee against the dollar.
While the Sensex closed 373 points or 0.99 percent higher, at 38,090.64, the 30-share BSE index overall dipped 0.8 percent for the week.
The NSE Nifty 50 ended above 11,500 mark, settling at 11,515.20, surging by 145.30 points or 1.28 percent at close, but for the week the broader 50-share index shed 0.6 percent.
Like frontline indexes, other broader and sectoral indices ended lower for the week with the exception of metal, which rose marginally up by 0.4 percent. The Nifty Bank lost 1.2 percent, while midcap index fell by a percent.
Here is a list of top gainers and losers from the NSE index:
Nifty Gainers
Grasim Industries: Shares ended 4.26 percent higher at Rs 1,063, adding Rs 43.40. For the week, Grasim rose 3.7 percent, being the top Nifty gainer.
UPL: Shares rose 3.2 percent for the week and climbed 4.88 percent on Friday to end at Rs 738.
Eicher Motors: The automobile company's shares ended 2.5 percent higher this week. Shares rose by Rs 556.85, or by 1.93 percent, to close at Rs 29,369.05 on Friday.
Vedanta: The mining company's shares surged 2.2 percent on a weekly basis, and ended the day rising by 5.10 percent at Rs 235.
PowerGrid: Shares rose 3.20 percent on Friday to settle at Rs 200. For the week, PowerGrid Corp of India shares jumped 2.5 percent.
Other major Nifty gainers were Wipro rising by 1.7 percent, Bajaj Finserv at 1.7 percent, Asian Paints 1.4 percent and Indian Oil Corp rising by 1.2 percent.
Nifty Losers:
Hero MotoCorp: India's premier two-wheeler company's shares trended negative this week, declining by 4.3 percent. At close on Friday, shares rose 0.85 percent to Rs 3,190.75, adding Rs 27 in value.
Tata Motors: Shares fell 3.9 percent this week, but ended higher on Friday, rising 0.77 percent to settle at Rs 143.50.
Coal India: The PSU mining company's shares slipped lower by 1.35 percent on Friday to end at Rs 277.75. On a weekly basis, the stock shed 3.2 percent.
Titan: Shares surged today by nearly two percent to close at Rs 842.70, but declined overall for the week by three percent.
Bajaj Finance: The Bajaj group company's shares underperformed by 2.6 percent this week, but surged 3.24 percent on Friday to close at Rs 2678.
Other major Nifty losers this week were M&M, which ended lower by 2.2 percent, ICICI Bank at 2 percent, Dr Reddy’s at 1.9 percent, UltraTech lower at 1.9 percent. Index heavweight Reliance Industries Ltd shed 1.9 percent this week.
Among midcap stocks, sugar stocks dominated this week after Modi government decided to raise ethanol prices on Wednesday. Consequently, Simbhaoli Sugar surged 41.5 percent, Dhampur Sugar rose 37 percent and Sakthi Sugar higher by 35.3 percent.
Other major midcap gainers were Triveni Engineering at 28.1 percent, Peninsula Land at 18.4 percent, Hathway Cable at 16.3 percent and JSL Stainless rising by 14.9 percent.
Among midcap losers, ITNL was down 21.6 percent, IL&FS Investment slided 14.4 percent, Jaypee Infra at 13.2 percent and Ashoka Buildcon down 11.1 percent. Cyient slipped lower by 6.5 percent, while Welspun Corp. declined 5.6 percent.
First Published: Sept 14, 2018 5:07 PM IST
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