BSE Sensex dipped 1,457 points, or 3.75 per cent, to 37.388 in last five sessions, while NSE’s Nifty slipped 454 points, or 3.96 per cent, to 11,050.
Going ahead, Vinod Nair, Head of Research, Geojit Financial Services, said, “The market is expected to remain volatile and directionless in the absence of solid triggers. Global cues will continue to be in focus as a resurgence in virus cases around the world, leads to more restrictions and more pressure on economic recovery.”
Below are the top stocks that created a buzz on Dalal Street through the week.
Shares of Advanced Enzyme Technologies rallied nearly 17 per cent last week after foreign portfolio investor Nalanda India Equity Fund bought around 41.90 lakh equity shares in the company at Rs 263.8 per share. The scrip closed at Rs 292.85 on September 25 against Rs 250.95 on September 18.
Shares of Apollo Hospitals extended their gains for the second straight week after analysts turned bullish on the company post Q1 results. ICICI Securities believes that the performance of Apollo Hospitals will improve gradually in the coming quarters as occupancy level improves.
“We remain positive on Apollo Hospitals long-term outlook considering its strong brand and pan-India presence in the hospital segment, margin expansion also supported by cost control, and 13.5 per cent EBITDA CAGR over FY20-FY23E,” the brokerage said. Shares of Apollo Hospital gained 11 per cent to Rs 2030 during the past five trading sessions.
Vodafone Idea and Bharti Airtel
Vodafone Idea hogged the momentum on Friday after reports that Vodafone Group Plc won arbitration against the Indian government over its demand for Rs 22,100 crore in taxes using retrospective legislation. The scrip closed 13 per cent higher at Rs 10.36 on September 25. However, shares of Vodafone Idea and Bharti Airtel declined up to 11 per cent last week after Reliance Jio on Tuesday unveiled postpaid plans, bundling up to 500 GB of data and subscription to Netflix, Amazon Prime and Disney + Hotstar.
With a fall of 28 per cent, GMM Pfaudler emerged as the top loser in the BSE500 index. The stock came under pressure after GMM Pfaudler on Monday said promoters plan to sell 17.6 per cent stake in the company. The floor price of the sale was at a discounted price of Rs 3,500 per share.
Shares of Route Mobile made a stellar stock market debut on Monday as they advanced 86 per cent at close of trade against its issue price of Rs 350. On the BSE, it got listed at Rs 708, reflecting a jump of 102.28 per cent from the issue price. The scrip closed at Rs 938.60 on Friday.
The energy-to-telecom major hogged some limelight after RIL said private equity player KKR will invest Rs 5,550 crore in Reliance Retail Ventures (RRVL) for a 1.28 per cent stake. However, shares of the company closed 4.50 per cent down at Rs 2,201.
With a fall of 16.04 per cent, private lender IndusInd Bank emerged as the top loser in the Nifty 50 pack. In general, most of the banking stocks took a hit last week after a report said almost all Indian banks were involved in a number of suspicious transactions between 2010 and 2017. The International Consortium of Investigative Journalism (ICIJ) obtained the top-secret Suspicious Activity Reports or SARs prepared by Treasury Department’s Financial Crimes Enforcement Network (FinCEN) which mentions these transactions.
Top BSE500 gainers and losers
With a rally of nearly 16.70 per cent, Advanced Enzyme emerged as top gainers in the BSE500 index. It was followed by Apollo Hospitals (up 11 per cent), Allcargo Logistics (up 7.62 per cent), Sterling and Wilson (up 7.60 per cent) and Zensar Technologies (up 6.53 per cent). On the other hand, GMM Pfaudler, Alok Industries, Indiabulls Housing Finance and JB Chemicals declined between 15-29 per cent.
Stocks that scaled all-time highs
As many as 19 stocks from the BSE500 pack scaled fresh highs during the week gone by. They included Coforge, Granules India, Indiamart Intermesh, Suven Pharmaceuticals, Syngene International, Mindtree, Infosys, Mphasis, Persistent Systems, Capri Global, Tata Consultancy Services and KPIT Technologies.