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Porus Mistry s Update : Indian Markets Previous Week
The Bulls had an excellent week as markets gained smartly on the back of all-round buying. A positive closing for Asian markets and reports that the government has tabled some key reform bills in the Parliament this week helped the index to end in the positive for the fourth straight day. The market ended the week with the largest percentage gain since July 2009. The Benchmark Indian stock indices ended higher by 5.24 percent at 18,816. The NSE Nifty ended 5.22 percent up at 5,654. The BSE Midcap underperformed the benchmarks but was up by 3.26 percent closing the week at 6,722 & the BSE Small cap ended up by 2.61 percent for the week at 8,002. The week's rally was again led by Realty sector which is showing some strength gaining 9 percent for the week. Some of the other sectors which performed well were Bankex, IT, Tech and Capital Goods.
Global Markets
The US markets ended higher as markets shrugged off weak global cues from West Asia, Japan and Portugal. Expectation of positive earnings helped sentiment. In economic data, jobless claims fell by 5000 to 3,82,000. The four week moving average dropped to 3,85,250, the lowest level in more than two and a half years. Dow Jones Industrial Average gained 3.05% at 12221. Nasdaq Composite added 3.74% at 2743. Standard & Poor's 500 rose 2.72% or at 1314.
SECTORAL ANALYSIS
BSE Realty
The BSE Realty Index gained 9 percent this week. The gainers in this index were DLF gaining a whooping 13.15% followed by Parsvnath Developers which gained 13.05 percent. Other gainers in this sector were IndiaBulls Real Est, Godrej Properties and Anant Raj gained in the range of 10-12 percent.
BSE Bankex
The BSE Bankex Index gained 6.1 percent this week. The gainers in this sector were Yes Bank gaining 8.88 percent followed ICICI Bank gaining 8.67%. Some of the other gainers in this sector were Axis Bank, Kotak Mahindra Bank and PnB gaining in the range of 5-7 percent respectively.
BSE IT
The BSE IT Index ended the week with gaining 5.7 percent this week. The gainers in this sector were FinTech gaining 8.88 percent followed by Infosys which gained 7.49%. Some of the other gainers included Core Projects, HCL Technologies & Tech Mahindra gaining in the range of 3-5 percent.
BSE Teck
The BSE Teck Index gainied 5.6 percent this week. The top gainer in this sector was DC Holdings which gained 20.12% during the week while Shree Ashtavinayak gained 16.75 percent followed by FinTech and Tata Communications gaining 8.80 and 8.59 percent respectively.
BSE Capital Goods
The BSE Capital GoodsIndex gained 5.2 percent for the week. The gainers in this sector included Usha Martin gaining 10.62 percent. Some of the other gainers in this sector were BHEL, BGR Energy, Lak Mach Works and Gammon India gaining in the range of 8-9 percent.
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