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    The week that was in 10 stocks: Tata Tele rallies, Ruchi Soya tumbles as FPO kicks off

    Synopsis

    Vinod Nair, Head of Research at Geojit Financial Services said that after a strong rally last week, the market turned sideways with a negative bias as global cues haunted domestic investors forcing them to stay sidelined. "The domestic market will continue to follow global developments. An end to the war and rise in oil supply can help India to sustain its resilience or else high volatility will be a concern in the short-term," he added.

    Stock MarketsAgencies
    New Delhi: Domestic equity markets snapped the two-week rally and settled lower during the week thanks to profit booking amid rising inflation, surge in crude oil prices and ongoing war between Russia and Ukraine.

    Benchmark indices - BSE Sensex and Nifty50 - dropped about a per cent each, whereas BSE midcap index settled marginally lower. However, the smallcap barometer registered gains on a weekly basis.

    Vinod Nair, Head of Research at Geojit Financial Services said that after a strong rally last week, the market turned sideways with a negative bias as global cues haunted domestic investors forcing them to stay sidelined.

    "The domestic market will continue to follow global developments. An end to the war and rise in oil supply can help India to sustain its resilience or else high volatility will be a concern in the short-term," he added.

    Talking about the sectoral performance, autos, banks, financials and FMCG took most of the beating, whereas metals were at the focus, followed by IT, energy and Oil & Gas names.

    "The war between Russia and Ukraine has resulted in another battle between inflation and the end customer, with price hikes across the board as India Inc has resorted to passing on the soaring raw material prices to customers in order to address margin concerns," Yesha Shah, Head of Equity Research, Samco Securities.

    In the BSE 500 index, more than 200 stocks ended the week with gains while the rest recorded losses. As many as 20 stocks gained in double digits during the week.

    Below are some of the key names that were in the spotlight during the week:

    Tata Teleservices (Maharashtra): The Tata Group’s telecom player, which deals in broadband, telecommunications and cloud services, zoomed about 28 per cent to Rs 167.7 during the week.

    Brightcom Group: The IT software products firm was high in demand among the investors after the company announced to issue bonus shares with a record date of March 16. The scrip advanced 27 per cent to Rs 89.5 during the week.

    Ganesh Housing Corporation: The Ahmedabad-based real estate player rallied high during the week, thanks to strong demand in the real estate sector. The counter surged 27 per cent to Rs 259.6, its new high in almost one and a half decade.

    Chemical stocks: Smallcap chemical stocks continued to attract investors during the week. Mangalore Chemicals & Fertilizers and Ashish Kacholia-owned Vishnu Chemicals jumped 19 per cent each to Rs 86.55 and Rs 1,724.35, respectively.

    Paisalo Digital: The financial services player added 18 per cent to Rs 748.2 after the announcement of signing co-lending loan agreement with Bank of Baroda through a regulatory filing.

    Aptus Value Housing Finance: The recently listed housing finance player dropped 15 per cent to Rs 323.95 during the week amid the weak sentiments, poor technical set up and profit booking.

    Reliance Capital: The ADAG Group firm shed another 15 per cent to Rs 14.15 amid the report that Tata AIG, ICICI Lombard and Nippon Life are among Indian and foreign financial companies joining the race for the profit-making insurance arms of the company.

    MTAR Technologies: The recently listed niche manufacturer of precision engineering components declined 14 per cent to Rs 1715.45 as Ex-Blackstone India MD Mathew Cyriac sold a chunk of its stake in the company through multiple block deals.

    Ruchi Soya Industries: The Baba Ramdev-led oil manufacturer tumbled 14 per cent to Rs 866.7 during the week as the company's FPO opened for subscription in the range of Rs 615-650 per share. It will raise Rs 4300 crore through the issue.



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