NBCC was the top gainer in the BSE500 pack with nearly 48% return, followed by Punjab & Sind Bank (40%), Infibeam Avenues (32%), and IRB Infra (31%).
About 5 stocks including UCO Bank, Indian Overseas Bank, SJVN, NHPCC, among others have offered returns between 20-25% during the week.
In the midcap segment, 16 stocks including Indian Bank, Delhivery, HPCL among others have risen in double digits. While Indian Bank gained 23%, Delhivery and HPCL were up 18% and 13%, respectively.
Among the Sensex pack, Power Grid topped the charts with 13% returns, followed by Tata Motors at 8% and Maruti Suzuki at 7.7%.
What should investors do?
With the US Fed and interim Budget now behind, all eyes will be on RBI’s policy meeting next week. Analysts expect the Central bank to maintain the status quo on key interest rates.
“We see the market to remain in positive territory as sentiments remain high amid commendable delivery on budget,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
Technically, Nifty after reaching an all-time high level saw intense selling forming a bearish inverted hammer.
“The level of 21,800, after role reversal, is now the immediate support for Nifty. A breakdown below this level can push Nifty towards 21,650. On the upside, 22,000 is the immediate resistance followed by 22,100,” said Sheersham Gupta, Director and Senior Technical Analyst at Rupeezy.
Any attempt of upmove from here could encounter strong resistance around 22100-22200 levels and that could possibly result in short-term weakness from the highs. Immediate support is at 21700 levels, said Nagaraj Shetti of HDFC Securities.
(With data inputs from Ritesh Presswala)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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