The BSE-Sensex closed above the 60,000-mark for the first time ever while the Nifty reached tantalisingly close to the 18,000-mark amid optimism for economic recovery and corporate earnings growth.
Realty stocks were in the spotlight last week, along with hotels and theatres. Analysts believe next week could belong to telecom, banks, IT, fertilizers and real estate names.
“With the depth of the damage which may be caused by Evergrande still not clear and some economic numbers from the US likely to be released, the markets may witness some amount of volatility during the course of the next week, and also some profit booking,“ said Joseph Thomas, Head of Research, Emkay Wealth Management.
Here are 10 stocks that saw big movements last week:
Godrej Properties, Oberoi Realty, DLF: These real estate names were three of the top four BSE500 gainers last week thanks to some positive newsflow. Residential buying has picked up led by interest rate cuts by banks and stamp duty cuts in some states.
climbed 34 per cent, Oberoi 26 per cent and DLF added 23 per cent.
Zee Entertainment: The counter was among the top weekly gainers for another week. It advanced 25 per cent after the company announced it will merge with Sony Pictures, in a deal that will retain the current MD & CEO.
Chalet Hotels, Indian Hotels Company: As more of India opens to travel, hotel stocks have come into their own.
gained 20 per cent while Tata Group owned Indian Hotels Company also rose 20 per cent.
Indus Towers: As the probability of survival of Voda Idea rose, fortunes of Indus Towers also changed. The stock gained 18 per cent as traders believe Voda Idea will have to spend money to compete against rivals, which will eventually benefit Indus Towers.
Inox Leisure: This is another reopening play that has gained traction in the recent few weeks. As more of India comes out of restrictions, more people will visit theatres. The stock advanced 14 per cent during the week.
Tata Steel, & Power: Both steelmakers were under selling pressure throughout the week as drop in international iron ore prices and Evergrande crisis hit the outlook of the sector. Thanks to the profit taking,
tumbled 8 per cent and Jindal Steel 7 per cent.
