New Delhi, September 14 (HS): Domestic equities witnessed robust momentum throughout the past week, buoyed by easing tensions over the U.S. trade deal, expectations of an interest rate cut by the U.S. Federal Reserve, and reports of the European Union rejecting Washington’s proposed tariff move against India. These developments propelled Indian markets to their biggest weekly rally in three months.
By the end of trading on Friday, September 12, the BSE Sensex surged 1,193.94 points, or 1.47 percent, to close at 81,904.70. Similarly, the NSE Nifty jumped 373 points, or 1.50 percent, to settle at 25,114. The BSE Largecap Index strengthened by 1.60 percent during the week.
Top Performers Across IndicesAmong largecap gainers were Samvardhana Motherson International, Bharat Electronics, Waaree Energies, SBI Cards & Payment Services, Indus Towers, Adani Energy Solutions, and Hindustan Aeronautics.
The Midcap Index also rose 1.60 percent, powered by strong moves in Tube Investments of India, Mazagon Dock Shipbuilders, Gujarat Fluorochemicals, BHEL, Oracle Financial Services, NHPC, and Bharat Forge.
The momentum was even stronger in the Smallcap Index, up 1.50 percent over the week. Shares of JBM Auto, Salasar Techno Engineering, Sigachi Industries, Indo Count Industries, Prime Focus, Precision Camshafts, IOL Chemicals & Pharmaceuticals, Select Energy Systems, Dilip Buildcon, Ramco Industries, Greenpanel Industries, ITDC, and MTAR Technologies surged between 15 and 36 percent.
Sectoral PerformanceOn the sectoral front, all Nifty indices advanced except consumer durables, which slipped 1 percent.Defence stocks led the rally, with the sectoral index gaining 7 percent.The IT index jumped 4 percent over the week.PSU stocks added 3 percent.Auto, Metal, and Pharma indices closed higher by around 2 percent each.
However, some stocks bucked the trend, with Reliance Infrastructure, Paradeep Phosphates, Rishabh Instruments, K&R Rail Engineering, Vimta Labs, CarTrade Tech, and Goodluck India losing between 10 and 16 percent.
Hindusthan Samachar / Jun Sarkar
