Top Movers

Benchmark indices BSE Sensex and NSE Nifty overcame the week's hiccups, to close with gains of 1.4 per cent each for the week. Weak production data for April reignited hopes of a rate cut by the Reserve Bank of India in its mid-quarter policy review next week. The IIP for April was just 0.7 per cent higher than the year-ago period.

The markets also had to contend with ratings agency S&P warning that India could lose its investment-grade rating, citing slowing GDP growth and political obstacles as risks.

The broader CNX-500 closed the week a whisker below the barometer indices at 1 per cent. But performance of mid-cap and small-cap stocks lagged the large-caps, with the BSE Midcap index down 0.5 per cent for the week and the BSE Small-cap index up 0.4 per cent. The Nifty Junior too closed down by 0.1 per cent for the week.

Among sectors indices, the BSE FMCG emerged the top performer, gaining 3.4 per cent through the week. Raising of minimum support prices for some kharif crops suggests more money in the hands of the rural consumers. Index constituent Dabur India surged the most, by 7 per cent. Other top gainers included HUL and ITC , up 6 per cent and 5 per cent respectively.

The other major gainer was the BSE IT index, which ended the week up 2.6 per cent. The BSE Realty index gave up gains it had made in the weeks before and lost 1.7 per cent. The BSE Healthcare index was the other index that closed down, by 0.8 per cent.

Among the week's top gainers were United Breweries and Kingfisher Airlines . The rally in these stocks was on the back of reports that the Vijay Mallya-controlled group may sell stake in United Spirits , and the proceeds may be used to pare debt in the beleaguered Kingfisher Airlines.

Stocks of United Breweries and Kingfisher Airlines were up around 20 per cent and 13 per cent, respectively, for the week.

The stock of Tata Motors was up 6 per cent on Friday alone, possibly after the company announced that the Chairman, Mr Ratan Tata, had bought 4.25 lakh shares of the company on Thursday from the open market. The rally was also fuelled by better sales numbers for the Jaguar Land Rover in May.

Another possible beneficiary from such buying is Parsvanath Developers . The stock of the real estate player was up almost 15 per cent this week. Acquisition of 5.30 lakh shares by the chairman of the company aided the stock's rise.

A wholly-owned subsidiary of real estate major DLF sold off its stake in Adone Hotels and Hospitality for Rs 567 crore. The DLF stock rallied 2 per cent after the announcement, but closed the week on a flat note.

Allcargo Logistics is to consider and approve a proposal for buyback of shares in the board meeting to be held on June 20.The stock was up 11 per cent for the week.

Piramal Healthcare is reported to be talks to buy stake in US contract drugmaker Cambridge for $200 million. The stock ended the week with a 10 per cent gain.

Construction player NCC was raised to “Neutral” from “Underperform” at Macquarie Research. The stock was up 10 per cent for the week.

There were stocks that lost heavily as well. Kotak Mahindra International FCCB sold 1,900,000 shares of 3i Infotech . The stock was down 14 per cent for the week.

The stock of Pidilite Industries was down 7 per cent for the week. The stock was cut to ‘neutral' from ‘buy' at Nomura.

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