In last two months, prosperity seems to be visiting the street even as indices appear to be racing towards strong resistance zones. The Indian indices were on a roll and outperformed almost all its global peers last week. However, this week it has been all about consolidation. The market has taken a much needed breather even as comparisons are being made to earlier rallies and FII strategy. FIIs have bought both in cash and F&O segment so far this month. Nifty managed to hit four month high in this week’s trade, but failed to sustain as traders turned cautious after a staggering rally in last two months.The ensuing consolidation could test the patience of traders and investors as several overhead resistances come into play, which could make the ride ahead a bit bumpy from here on.

The results have started coming in with no negative surprises as yet. The street did cheer Infosys’s performance. The Q4 FY16 IT earnings season has been a mixed bag so far with Infosys and Mindtree surprising positively, TCS performing in-line with street expectation and Wipro and Cyient disappointing a bit. Management commentary from most companies has been somewhat encouraging with nearly no mention about any near term risks to growth.The banking stocks were in action after media reports stated that the Reserve Bank of India trimmed the list of companies whose loans need to be provided for against the risk of default. RBI’s decision is seen as a positive for the banks with many entrepreneurs getting serious about repaying banks.Metals stocks shine during the week, rally in base metals prices following weakness in the dollar were responsible for a rally in metal stocks.

For the week, BSE Sensex closed at 25,838 (up 0.8%) and NSE Nifty at 7,899 (up 0.6%)

Sensex Top Gainers: The top gainers in Sensex were Axis Bank (up 7.7%), Tata Steel (up 6.4%), ICICI Bank (up 4.5%), NTPC (up 4.4%), State Bank of India(up 4.3%)

Sensex Top Losers: The top losers in Sensex were Hero MotoCorp (down 4.8%), Wipro (down 4.6%), Bharat Heavy Electricals (down 4.2%), Tata Consultancy Services (down 4.2%), Reliance Industries (down 2.5%)

Nifty Top Gainers: The top gainers in Nifty were Vedanta (up 11.6%), Axis Bank (up 8%), Punjab National Bank(up 6.5%), Tata Steel (up 6.2%), Bank of Baroda(up 6.2%)

Nifty Top Losers: The top losers in Nifty were Hero MotoCorp (down 4.8%), Wipro (down 4.6%), Bharat Heavy Electricals (down 4.6%), Ambuja Cements (down 4.4%), Tata Consultancy Services (down 4.3%)

BSE Mid Cap Top Gainers: The top gainers in Mid Cap Index were Oberoi Realty (up 13.4%), Crompton Greaves (up 7.6%), Canara Bank(up 7.5%), Indiabulls Housing Finance (up 7.5%), Reliance Communications (up 7.5%)

BSE Mid Cap Top Losers: The top losers in Mid Cap Index were Blue Dart Express (down 6.9%), Bajaj Finance (down 6%), United Breweries (down 5.1%), Ashok Leyland (down 4.5%), L&T Finance Holdings (down 4.3%)

BSE Bank Index Top Gainers: The top gainers in Bank Index were Axis Bank (up 7.7%), Punjab National Bank (up 6.5%), Federal Bank (up 6.3%), Bank of Baroda (up 6.1%), ICICI Bank (up 4.5%)

BSE Bank Index Top Losers: The top losers in Bank Index were Kotak Mahindra Bank (down 2.4%), IndusInd Bank (down 0.9%)

BSE Healthcare Top Gainers: The top gainers in Healthcare Index were Alembic Pharmaceuticals (up 9.7%), Novartis India (up 6.7%), Orchid Pharma (up 6.6%), Hikal (up 6.2%), Alembic (up 5.4%)

BSE Healthcare Index Top Losers: The top losers in Healthcare Index were Bliss Gvs Pharma (down 12.1%), Syncom Formulations India (down 10.7%), Shilpa Medicare (down 5.3%), Jubilant Life Sciences (down 4.9%), Sequent Scientific (down 4.3%)

BSE Auto Top Gainers: The top gainers in Auto Index were Motherson Sumi Systems (up 6.3%), Amara Raja Batteries (up 2.9%), Maruti Suzuki India (up 2.2%), Tata Motors (up 2.1%), Eicher Motors (up 1.3%)

BSE Auto Index Top Losers: The top losers in Auto Index were Hero MotoCorp (down 4.8%), Ashok Leyland (down 4.5%), Apollo Tyres (down 3.9%), Cummins India (down 3.3%), MRF (down 2.6%)

BSE Oil & Gas Top Gainers: The top gainers in Oil & Gas Index were Bharat Petroleum Corp (up 4.3%), Castrol India (up 3.4%), Indian Oil Corp (up 2.9%), Oil & Natural Gas Corp (up 1.5%), Petronet LNG (up 1.4%)

BSE Oil & Gas Index Top Losers: The top losers in Oil & Gas Index were Reliance Industries (down 2.5%), Cairn India (down 2.4%), Oil India (down 0.8%), GAIL India (down 0.6%)

BSE Metals Index Top Gainers: The top gainers in Metals Index were Vedanta (up 11.7%), Jindal Steel & Power (up 7.3%), National Aluminium Co (up 7%), Tata Steel (up 6.4%), Hindalco Industries (up 4.8%)

BSE Metals Index Top Losers: The top losers in Metals Index were NMDC (down 1.1%)

BSE IT Index Top Gainers: The top gainers in IT Index were Lycos Internet (up 10.7%), Financial Technologies India L(up 9%), Sasken Communication Technolog(up 7.6%), Blue Star Infotech (up 7.5%), SQS India BFSI (up 7.2%)

BSE IT Index Top Losers: The top losers in IT Index were Subex (down 10.7%), RS Software India (down 6.5%), Intellect Design Arena (down 4.9%), Wipro (down 4.6%), Tata Consultancy Services (down 4.2%)

Source : indiainfoline.com

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