For the week, the top gainers include HPCL, Bajaj Finance, IOC, Yes Bank, Bajaj Finance and Reliance Industries.
Bulls had almost everything going their way on Friday, as benchmarks shrugged off weakness coming in from global markets and saw one of the biggest one-day gains since May 2016. For the week ended on October 12, 2018, both Sensex and the Nifty gained 1-1.5 percent.
Indian equities looked to shrug off any concerns emerging from the selloff from global markets. This is despite rout in Wall Street, but resilience from Asian indices also aided sentiment back home. Sharp fall in crude oil prices largely boosted Sensex and Nifty. The commodity fell to USD 80 per barrel levels from USD 86 per barrel that it had reached recently.
On Friday, the Sensex ended up 732.43 points or 2.15 percent at 34733.58, while the Nifty closed higher by 237.80 points or 2.32 percent at 10472.50.
The market breadth was positive as 2,024 shares advanced, against a decline of 630 shares, while 801 shares were unchanged.
Individual stocks never disappoint as the week gone by witnessed volatile trends. Here's a look at the top movers:
Hindustan Petroleum Corporation, up 32.28%
Fuel retailers including Hindustan Petroleum Corporation were among biggest gainers on the Nifty50 after sharp decline in crude oil prices on Thursday. Oil prices traded around $86 a barrel few days back on supply concerns ahead of US' sanctions on Iranian oil effective from November, which fell to around $81 a barrel now.
YES Bank, up 19.64%
Share price of Yes Bank gained nearly 20 percent for the week, adding 6 percent intraday on Friday. The bank has appointed Korn Ferry to assist the committee in evaluating candidates to find successor for outgoing MD and CEO. It had invited proposal from four global leadership advisory firms specialising in BFSI to assist the search and selection committee in identifying a suitable successor to Rana Kapoor, MD & CEO, Yes Bank.
Indian Oil Corporation, up 13.43%
Shares of Indian Oil Corporation (IOC) gained 6.5 percent after company approved investment plan worth Rs 7,315 crore, adding nearly 14 percent for the week. The company board in its meeting held on October 11 approved investment for implementation of city gas distribution (CGD) for seven geographical areas.
The surge of the share price was also aided by sharp fall in crude oil prices. Oil prices traded around $86 a barrel few days back on supply concerns ahead of
US' sanctions on Iranian oil effective from November, which fell to around $81 a barrel now.
Bajaj Finance, up 13.05%
Shares of non-banking financial company (NBFC) Bajaj Finance rose sharply on Wednesday after SBI raised its target to buy “good quality” asset portfolios from NBFCs. The stock has breached above the resistance level of Rs 2,167.5, the 23.6 percent Fibonacci retracement level of the downtrend from August 29 high to October 8 low.
Eicher Motors, up 12.8%
Shares of Eicher Motors gained close to 13 percent last week as the company is set to announce its second quarter numbers. Prabhudas Lilladher expects Eicher Motors to report net profit at Rs. 568.1 crore up 9.7 percent year-on-year (down 1.4 percent quarter-on-quarter). Net sales are expected to increase by 10.3 percent Y-o-Y (down 6.2 percent Q-o-Q) to Rs 2,390.6 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 9 percent Y-o-Y (down 8.1 percent Q-o-Q) to Rs. 744 crore.
Zee Entertainment, up 10.51%
Zee Entertainment Enterprises' Q2 standalone net profit rose by 4 percent to Rs 377 crore against Rs 360 percent in the same quarter last fiscal. However, its consolidated net profit fell 38 percent to Rs 386.7 crore versus Rs 625.5 crore, while revenue rose 25 percent to Rs 1,976 crore versus Rs 1,582 crore (YoY).
Broking firm CLSA has maintained buy on Zee Entertainment with a potential upside of 46 percent. The firm cut target price to Rs 670 from Rs 675 per share.
Macquarie maintained outperform call on Zee Entertainment with a target of Rs 556 per share. It sees a potential upside of 21 percent.
Credit Suisse has maintained buy on the stock but cut target to Rs 560 from Rs 640 per share.
Reliance Industries, up 7.41%
Fuel retailers including Reliance Industries were among biggest gainers on the Nifty50 after sharp decline in crude oil prices on Thursday. Oil prices traded around $86 a barrel few days back on supply concerns ahead of US' sanctions on Iranian oil effective from November, which fell to around $81 a barrel now.
Saudi Arabia, the world's biggest oil exporter, will supply Indian oil buyers with an additional 4 million barrels of crude oil in November, several sources familiar with the matter said on Wednesday.
Reliance Industries sought an additional 1 million barrels in November, one of the sources said.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Tata Motors, down 15.03%
Tata Motors share price corrected sharply on Tuesday, hitting nearly 7-year low on consistently weak performance from its luxury car brand Jaguar Land Rover.
The stock fell below Rs 200 levels at Rs 170.65, the lowest level since December 19, 2011, falling 19.78 percent intraday.
The stock plunged nearly 60 percent in last one year due to continued weak financial performance at JLR and new emission rules in Europe which hit diesel cars sales.
JLR on Monday reported total retail sales of 57,114 vehicles in September 2018, down 12.3 percent year-on-year, hit by lower demand in China, the company said.
HCL Tech, down 9.12%
Shares of IT firm HCL Technologies ended lower by over 9 percent for the week gone by ahead of its September quarter numbers. Prabhudas Lilladher expects HCL Technologies to report net profit at Rs. 2431.3 crore up 1.1% quarter-on-quarter (up 11.1% year-on-year). Net sales are expected to increase by 6.5 percent Q-o-Q (up 18.8 percent Y-o-Y) to Rs. 14,775.2 crore, according to the brokerage firm.
Tata Consultancy Services, down 8.77%
Shares of IT major Tata Consultancy Services (TCS) ended lower by 8 percent for the week despite the company reporting results for the quarter ended September 30 which was slightly below CNBC-TV18 estimates but managed to outperform on EBIT as well as revenue parameters.TCS reported a net profit of Rs 7,901 crore for the quarter ended September which was slightly lower than the CNBC-TV18 estimate of Rs 8,065 crore. Its revenue rose 20.7 percent on a YoY basis to Rs 36,854 crore for the quarter ended September, and on a quarter-on-quarter basis, it rose by 7.57 percent. In constant currency terms, revenues rose by 11.5 percent on a YoY basis.