The Indian equity indices ended Friday’s volatile session moderately lower amid selling pressure across the board.
The benchmark BSE Sensex eased 48.88 points, or 0.09%, to close at 55,769.23, while the 50-share index Nifty50 shed 43.70 points, or 0.26%, to close at 16,584.30. Broader markets underperformed the frontliners as the Nifty Midcap 100 index declined 1.64% and Nifty Smallcap 100 index fell 0.86%.
Barring Nifty IT and Nifty Oil & Gas, all other sectoral indices ended in the red for the day with Nifty Auto, Nifty Metals, Nifty PSU Bank and Nifty Realty falling the most.
On the weekly basis, Sensex & Nifty gained for the third straight week while Nifty Bank snapped a two-week gaining streak. Sensex ended the week with gains of 1.61% and the Nifty gained 1.41%.
Among sectoral indices, Nifty Realty and Nifty IT gained over 4% each followed by Nifty Media, Nifty PSU Bank, Nifty Metal and Nifty Energy. Nifty Pharma declined for the second week in a row, posting its lowest weekly close in over a year.
The outflow of foreign capital from Indian markets remained unabated during the week ended June 3. Foreign institutional investors (FII) sold more than Rs 6,600 crore in the cash segment this week.
The week also saw three IPO listings of Ethos Ltd, eMudhra Ltd and Aether Industries Ltd.
Here are the top gainers for the week:
Shares of Coal India, the world’s largest coal miner by output, rallied over 8.33% during the week to close at Rs 197 on Friday. The stock is near to its 52-week high of Rs 209.00 hit on April 22, 2022. It hit a 52-week low of Rs 132.80 apiece on August 23, 2021.
The state-run miner produced 108.2 million tonnes of coal in April-May of the ongoing fiscal year, registering a growth of 28.8% from 84 million tonnes produced in April-May last fiscal year. Coal India’s output in May increased to 54.7 MT from 42.1 MT, YoY.
Auto major Mahindra & Mahindra posted 7.96% gains for the week. The stock hit a 52-week high of Rs 1,057.75 on June 02. It had hit a 52-week low of Rs 671.00 on March 08 this year.
The company clocked a massive 208% YoY growth in May auto sales at 53,726 vehicles, while the tractors segment registered 48% YoY growth to 35,722 units.
The energy-to-telecom conglomerate Reliance Industries’ shares jumped 7.94% for the week. In the past three months, RIL stock has rallied 19%, outperforming the benchmark Nifty.
Expectations of recovery in refining margins, higher oil prices and ramp-up of Jio Mart supported the rally in stock price.
On June 2, Reliance Industry announced that its subsidiary Reliance Brands Ltd (RBL) inked a joint venture arrangement with Plastic Legno SPA to strengthen the toy manufacturing ecosystem in India. As per the statement, Reliance Brands will buy a 40% stake in Plastic Legno SPA’s toy manufacturing business in India.
Tata Consultancy Services (TCS)
The country’s largest software services exporter TCS gained 5.48% for the week to close at Rs 3,438.80 apiece on the BSE. The market capitalisation of TCS surged to Rs 12,58,274 crore as of Friday’s market close.
The stock hit a 52-week high of Rs 4,045.50 on January 18, 2022, and a 52-week low of Rs 3,122.40 on June 03, 2021.
State-run Oil & Natural Gas Corporation Ltd (ONGC) rallied 5.42% during the week. The stock is up 6.4% YTD, while it has risen 23.76% in the last one year.
Rising global crude oil prices have helped improve the revenues of domestic oil producers. ONGC’s net sales in Q4FY22 rose to Rs 155,920.48 crore, while its net profit increased to Rs 10,550.29 crore.
Here are the top losers for the week:
Apollo Hospitals Enterprises
Apollo Hospitals Enterprises has been the top losers among Nifty constituents for the week. The stock has fallen 7.07% during this week.
The company posted consolidated sales of Rs 3,577.15 crore in the fourth quarter of fiscal 2022, registering a decline of 23.85% from the same period last fiscal. Its net profit declined 46.3% YoY to Rs 90.14 crore.
Shares of Shree Cement posted a weekly loss of 5.88%. On June 3, the stock also hit a 52-week low of Rs 20,551.00. It’s 52-week high was Rs 31,441.05 hit on September 15, 2021.
The cement stock came under pressure after the sector major UltraTech Cement announced a new capital expenditure plan of Rs 12,886 crore to tide over the competition in the sector. Cement sector is also facing multiple headwinds including sustained rise in energy costs and near-term demand weakness.
Hero MotoCorp, the world’s largest two-wheeler manufacturer, declined 5% in the week to end at Rs 2,584.50 on Friday. The stock is down 14.11% in the last one year.
The company’s total vehicle sales in May 2022 stood at 4,86,704 units, a growth of 16% over the month of April 2022, when the company sold 418,622 units. The company sold 183,044 units in the corresponding month of 2021. Total sales include 4,52,246 units of motorcycles and 34,458 units of scooters.
Leading cement manufacturer UltraTech Cement shares lost 4.53% in the week ended June 3 to close at Rs 5,677.40 apiece. The stock also hit a 52-week low of Rs 5,608.80 on Friday.
The Aditya Birla Group firm announced to invest Rs 12,886 crore to add 22.6 MTPA capacity to its total production, with a mix of brownfield and greenfield expansion.
Kotak Mahindra Bank
Kotak Mahindra Bank shares declined 4.50% and closed at Rs 1,858.15 on the BSE on Friday. The stock has risen by just over 3.4% YTD.
The private lender posted a 65% YoY rise in its Q4FY22 net profit to Rs 2,767 crore led by strong lending and higher fee income. Its net interest income increased to Rs 4,521 crore and net interest margin was 4.78%.
Going ahead, the equity market is expected to remain choppy ahead of the Reserve Bank of India’s monetary policy announcement next week. The central bank is widely expected to raise repo rates as part of a tightening cycle. The markets may remain volatile while the action of FIIs would also be on the watch.