Nifty Scales 10,500-Mark: The Biggest Contributors And Laggards
Realty stocks continued their stellar run, as the sectoral benchmark rose 5% during the week.
India's equity benchmarks climbed to new peaks on Friday, with the NSE's Nifty 50 scaling the 10,500-mark for the first time as members added 1.32 lakh crore in market capitlisation.
A narrow victory for Prime Minister Narendra Modi's party in elections in his home state of Gujarat this month has raised expectations that the government will take steps to boost rural income. The Nifty has risen over 28 percent in 2017, making it one of Asia's best-performing stock index.
Also Read: The Stocks That Left The Street Surprised
India's volatility index, a widely used measure of market risk often called the investor fear gauge, dropped over 20 percent last week while mid- and small-cap stocks outperformed their larger peers.
Real estate stocks continued their stellar run, as the sectoral benchmark rose 5 percent during the week.
Foreign investors turned net sellers for the third straight week after selling equities worth Rs 4,783 crore. However, the market was well supported by domestic institutions who bought Rs 3,525 crore worth of stocks last week, Bloomberg data showed.
India’s second largest company Tata Consultancy Services Ltd. added most to its market value, followed by Maruti Suzuki India Ltd. whose shares touched an intraday lifetime high of Rs 10,000 during the week.
Here’s a list of the Nifty’ top gainers and losers by market capitalisation
