Sensex, Nifty Post Losses For The Week Despite Final Hour Surge
An Index curve is displayed on a screen. (Photographer: Hannelore Foerster/Bloomberg)

Sensex, Nifty Post Losses For The Week Despite Final Hour Surge

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Decoding The Market Performance For The Week

Closing Bell: A Dramatic Recovery

Indian equity markets rebounded sharply from the lows of the day, to end with gains, near the highest point of the day. However, the surge was not enough to prevent losses on a weekly basis.

The S&P BSE Sensex ended 0.72% higher at 33,780. The index recovered 1,432 points from the day's low of 32,348.

The NSE Nifty 50 index too ended with gains of 0.72% but failed to cross the 10,000 mark. The index ended at 9,972 - with a recovery of 430 points from the day's low of 9,544.

Most sectoral indices managed to recover from the day's low to end with gains, except the Nifty I.T. and Nifty Media index, which ended 1.5% and 0.9% lower respectively.

The Nifty Auto index ended as the outperformer in today's trade, aided by gains in Mahindra & Mahindra, post its fourth quarter earnings. The index ended with gains of 2.9%.

The India Volatility Index ended above the mark of 30, gaining 3.9% to end at 30.82. Market breadth reversed in favour of the advances by the close of trade. 947 stocks on the NSE ended with gains while 852 posted losses.

For the week, the Sensex ended with losses of 1.48% while the Nifty reported losses of 1.67%. Both the benchmarks snapped a two-week gaining streak.

Stock Update: Sundaram Finance

  • Top gainer on the Nifty 500 Index
  • Gains as much as 14% to Rs 1,375
  • Biggest single-day gain since January 2004
  • Trades at the highest level in three months
  • Snaps three-day losing streak
  • Today's volumes are 1.3 times higher than its 30-day average
  • Nearing 100-Day Moving Average at 1,378.7
  • Has gained 37% from its 52-week low of Rs 982 on March 25, 2020
  • Four out of the six analysts tracking the stock have a buy recommendation; one sell call
  • Return potential for the stock as per Bloomberg data is 3.8%

Covid-19 Impact: MRF

  • Operations were hampered post resumption.
  • Manufacturing locations were able to service market requirements due to lower demand.
  • Difficult to assess financial impact on future performance.
  • May face challenges with regards to availability of raw material.
  • Financial results of Q1FY21 will be adversely impacted
  • Have strong net worth, low debt and favourable liquidity position.
  • Servicing all debt in a timely manner.
  • Do not see any incremental risk to servicing financial arrangements.

Shares of the tyre company are trading 1.3% higher at Rs 63,688, snapping a three-day losing streak.

HDFC Bank Leads The 1,200 Point Recovery On The NIfty Bank

Sensex, Nifty Post Losses For The Week Despite Final Hour Surge

Active Stock Options

  • Reliance Industries' 1,600 Call: Premium up 55.1% to Rs 37. The contract has shed 1.9 lakh shares in Open Interest.
  • IndusInd Bank's 500 Call: Premium up 13.1% to Rs 64.2. The contract has shed 2,400 shares in Open Interest.
  • Bajaj Finance's 2,500 Call: Premium up 65% to Rs 123. The contract has shed 11,500 shares in Open Interest.
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