After gyrating nearly 800 points, the 30-share pack Sensex rose 86 points or 0.15% to close with marginal gains at 55,550.30. The index opened in the red and struggled around the flatline. Its broader peer NSE Nifty50 rose 35.55 points or 0.21% per cent to 16,630.45.
The entire session was choppy as global sentiments were not in favour of bulls and the market struggled in a narrow range as US inflation, surging commodity prices and no breakthrough between Russia and Ukraine dented the overall sentiment.
On a weekly basis, Sensex advanced 2.20% and Nifty50 managed to gain 2.37%.
“Indices remained range-bound on worries over increasing cost pressures on corporates, rising inflation globally, and slowing automobile dispatches to dealers amidst supply constraints,” said S Ranganathan, Head of Research at LKP securities.
“Pharma stocks bucked the trend with the healthcare Index moving up and the breadth in the broader markets was encouraging. Sugar stocks gained post-election results and ethanol push while paper stocks were in demand post price hikes that are seen to offset input cost pressures,” he added.
Market at a glance:
- Cipla shares close at a record high, up 12.64% this week
- ITC gains for 4th straight session to end the session at a 1-month high
- National Fertilizers, Rashtriya Chemicals & Fertilizers and FACT gain over 7%
- Zomato falls 2.75% on the back of higher volumes
- India VIX, barometer of future volatility, eases 0.93% to 25.34
Gainers & Losers
Cipla, BPCL, Sun Pharma, Dr Reddy’s, ITC were the top gainers, rising up to 3.5%. Power Grid, Titan, Asian Paints, Bajaj Finance, Kotak Mahindra Bank, SBI, HDFC Bank were other top gainers.
Nestle was the top loser in the Nifty pack, falling 1.72%. Maruti, Tata Consumer, Hindalco, NTPC were other names that ended with cuts.
Broader markets stayed in the green throughout the session, Nifty Midcap and Smallcap ended the session with a gain of 0.6% and 0.91%. Nifty 500, the broadest index on NSE, also ended with a marginal gain of 0.34%.
GNFC, Laurus Labs, TVS Motor, Navin Fluorine International, Balrampur Chini, DCM Shriram were top gainers from mid and smallcap indices, rising in the range of 4-12%.
Sectoral Movement
12 out of the 15 sector gauges — compiled by the NSE — settled in the green. The Nifty pharma index rose 2 per cent and oil and gas index added 1 per cent. However, Nifty Auto slipped 0.40 per cent.
All sectoral indices ended higher for the week, with pharma and IT leading the gainers’ chart.
Nifty Bank also snapped its 4-week losing streak despite a 3,000 points intra-week move, while Nifty Media rose over 6% to post the best week since December 12.
Index Statistics
The market breadth remained in favour of gainers, with an advance-decline ratio of almost 2:1.
About 2,076 shares advanced, 1263 shares declined and 119 shares remained unchanged. 89 stocks tested their 52-week highs during the session, whereas 16 others tested their 52-week lows. 15 stocks hit their upper circuit limit, while 4 stocks were locked in the lower circuit.
Global Markets
US and European stocks nudged higher on Friday after Russian President Vladimir Putin said there was some progress in Moscow’s talks with Ukraine. Bourses in Hong Kong and Tokyo settled lower, while Shanghai was marginally higher.
Despite Friday’s relief rally, sentiment remains weak across markets.
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