Indian stock market has performed best over 4% weekly since October 2024 | Economic News
Mumbai: Indian stock markets witnessed an excellent rally in the week ending May 16, with investors returning more than 4% since the week ended October 4, 2024 and recording the best weekly performance. The benchmark Nifty soared 1,011.80 points or 4.21% – marking more than seven months of weekly growth over seven months. Similarly, Sensex jumped 2,876.12 points or 3.62% – reflecting strong investor confidence.
Mid- and small-cap stocks outperformed large-cap stocks in the week. The exquisite Chinese stock 100 rose 7.21%, while the exquisite small Kupp 100 rose more than 9% – showing based on a wide range of market recovery rates. In terms of groups, defense stocks grew by 17.2% at a rate of 17.2%, with 1.78% (10.78%), metals (9.28%), media (9.28%), percentages (9.10%) (7.10%), and public places (7.10%), and public places (7.28%), and share (9.28%), and public places.
Most sector indexes end in green. Among the top rewarders on Sensex were Tata Steel (10.3%), Tech Mahindra (8.3%), Eternal (Zomato, 8.2%), Adani Ports (7.7%), Bajaj Finserv (6.1%) and Maruti Suzuki (6.1%).
On the failed side, Industrial Bank fell 4.6%, Bharti Airtel fell 1.9%, and Sun Pharma fell 0.6%. “Nifty continues to surpass its short-term moving average, maintaining a bullish trend. The next resistance is 25,207, while the support is about 24,800,” said Nandish Shah, senior derivatives and technical research analyst at HDFC Securities.
On Friday, the market ended. While large stocks have some profit bookings, they continue to buy in mid- and small-cap stocks. Sensex closed 200.15 points or 0.24% at 82,330.59, while Nifty ended 42.30 points or 0.17%, down 0.17% to 25,019.80.
Meanwhile, the Nifty MidCAP 100 scored 529.65 points, or 0.94% closed at 57,060.50, while the Nifty SmallCap 100 index rose to 320 points or 1.86%, with a steady 17,560.40 at 17,560.40.
