Benchmark indices gained a per cent each, with BSE Sensex rallying about 620 points to end over 60,000. Its NSE counterpart, Nifty 50, added 185 points to end the week above 18,100.
During the week, global markets remained highly volatile as inflation fears got elevated, said Vinod Nair, Head of Research at Geojit Financial Services.
“The domestic market also followed this trend. However, momentum regained at the end of the week due to sectors in the market which are least impacted by inflation like IT and others, and volume growth, reforms, supportive monetary policy, good quarterly earnings and strong domestic macro data points,” he added.
Strong buying in infrastructure, energy, IT, and auto stocks lifted the market, but selling in banks and pharma capped the upside. The market will remain shut on November 19 for Gurunanak Jayanti.
In the BSE500 index, over 275 stocks closed in the green, whereas others settled in the red. Over 20 stocks delivered double-digit gains during the week. The biggest gainers and losers of the week also included those that came out with their earnings.
“The market is still looking for direction as headline indices Nifty and Sensex are consolidating. However, many pockets beneath the surface are doing well. We were seeing stock-specific movement amid the Q2 earnings session and now the market’s focus will shift to global cues,” said Santosh Meena, Head of Research, Swastika Investmart.
Here are key names that were under spotlight during the week:
Monte Carlo Fashions: The smallcap apparel manufacturers zoomed as much as 30 per cent to Rs 547.35 during the week after it reported a 665.46 per cent rise in the net profit to Rs 33.91 crore in the quarter ended September 2021.
Aurum Proptech: The IT consulting and software player surged 29 per cent to Rs 122 as smallcap czar Porinju Veliyath entered the counter. The company also announced to invest Rs 25 crore for a 49 per cent stake in Intergrow Asset Management.
IT stocks: Technology-based companies were in high demand among traders during the week, thanks to high volatility. Subex jumped 25 per cent to Rs 57.2, whereas KPIT Technologies gained 23 per cent to Rs 429.6. NIIT and Brightcom Group advanced up to 20 per cent each.
Minda Industries: The automobile player soared 17 per cent to Rs 935.9 post Diwali. The company was in the spotlight ahead of its financial results. It reported a consolidated PAT of Rs 113 crore in the September quarter.
Adani Group stocks: Companies from the Gautam Adani Group were in the buzz during the week as the stocks hit new 52-week highs. Adani Total Gas surged 16 per cent to Rs 1659.25, whereas its flagship company
jumped 14 per cent to Rs 1,704.95. gained 9 per cent during the week.
Balaji Amines: The speciality chemical player tanked 14 per cent to Rs 2,981.3 during the week, followed by weakness due to margin pressure in the September 2021 quarter. Also, the company reported a weak set of numbers on a sequential basis.
IndusInd Bank: The private lender shed 13 per cent to Rs 1,036.75 during the week after whistleblower allegations of loan evergreening. Several people alerted the RBI and the board of the private sector lender about lapses in governance.
Firstsource Solutions: The IT player declined 11 per cent to Rs 177 during the week after muted numbers on a sequential basis in the September quarter. The company is transitioning from being a BPO player to a platform player, its chairman Sanjiv Goenka said.
