Domestic benchmark equity indices extended their gains for the second straight week, led by heavy buying in banking stocks amid firm global cues.
The 30-share BSE Sensex soared 1,032 points, or 2.69 per cent to around 39,467 for the week ended August 28. Likewise, the NSE Nifty index advanced 276 points, or 2.43 per cent, to 11,647.
Here are the top buzzing stocks and sectors in the week gone by.
Stocks that rallied up to 29 per cent
As many as 51 stocks in the BSE500 index delivered over 10 per cent returns to investors during the week. They included Dish TV (up 28.70 per cent), IndusInd Bank (27.86 per cent), Repco Home Finance (27.55 per cent), Blue Star (24.16 per cent) and Adani Enterprises (23.61 per cent). Tata Motors-DVR, Adani Green Energy, Indostar Capital, TCNS Clothing, IIFL Finance and Nava Bharat Ventures also advanced between 15 per cent and 24 per cent.
Stocks that slid up to 17%
As many as 17 stocks on the BSE500 plunged over 5 per cent during the week. Hindustan Aeronautics lost 16.54 per cent, followed by Varroc Engineering (8.52 per cent), ABB Power (8.30 per cent), Jindal Stainless (8 per cent) and Grindwell Norton (8 per cent).
Scrips at fresh 52-week highs/lows
In the BSE500 index, Atul Ltd, Coromandel International, Divi’s Labs, Dixon Technologies, GMR Infrastructure, Larsen & Toubro Infotech, Nocil, SBI Cards and Sun Pharma were among the 25 firms that hit new 52-week highs. On the other hand, Blue Dart Express, Jagran Prakashan, Rajesh Exports, Omaxe, IIFL Finance, Gateway Distriparks and Shriram City Union Finance hit new 52-week lows.
Top Nifty Gainers
IndusInd Bank: With a rally of nearly 30 per cent, IndusInd Bank emerged as top gainer in the Nifty50 pack. The scrip jumped to Rs 665.65 on August 28 from Rs 513.55 on August 21. Shares of the lender hogged traction after the bank witnessed a three-fold jump in digital account openings from pre-Covid-19 levels and plans more investments in the digital channel.
Tata Motors: Shares of Tata Motors gained 18 per cent to Rs 120.90. The auto major is aiming to reduce its total automotive debt to ‘near-zero levels’ in three years and generate free cash flows from FY22 onwards.
Top Nifty Losers
Shree Cement: Traders booked some profit in Shree Cement after the scrip witnessed gains in the recent past. As a result, shares of the company closed 4.53 per cent lower at Rs 21,294 for the ended August 28. NPTC (down 4.40 per cent), Power Grid (down 3.6 per cent) and UltraTech Cement (down 3 per cent) stood among other majors losers in the Nifty pack.
ICICI Bank, ICICI Securities
Private lender ICICI Bank on Friday said it has sold 2 per cent stake in its subsidiary firm ICICI Securities through an open market transaction for Rs 310 crore. Shares of ICICI Bank settled 4.41 per cent higher at Rs 409.75 on Friday, while ICICI Securities closed 0.21 per cent up at Rs 492.
Banking counters grabbed eyeballs during the week after RBI Governor Shaktikanta Das said the banking system “continues to be sound and stable” through the coronavirus pandemic and the central bank “has not exhausted its ammunition, whether on rate cuts or other policy actions” to deal with the crisis. The BSE Bankex climbed 10 per cent last week. The BSE Realty, Auto and Consumer Durables also gained 4 per cent, 2 per cent and 1.28 per cent, respectively.
Shares of Vodafone Idea rose more than 18 per cent during the past five sessions on expectations of a favourable verdict in the adjusted gross revenue (AGR) case. The stock is up 65 per cent year to date, and has doubled over the last one year, despite losing subscriber base and the overhang of the pending Supreme Court verdict.