Top Movers

Markets had a good time last week, with both the bellwethers — the BSE Sensex and NSE Nifty — closing 4.7 per cent up over last week.

The broader CNX 500 closed along similar lines with a gain of 4.1 per cent for the week. The BSE Midcap and Smallcap indices closed lower, gaining 3 per cent and 2 per cent respectively, while the Nifty Junior index closed 3.1 per cent higher.

A low GDP growth figure for the fourth quarter of FY2012 led to hopes that the Reserve Bank of India would cut interest rates in its mid-quarter monetary policy review. This provided a booster dose to markets. Also helping markets notch up gains was positive cues from global markets.

The banking sector saw its representative BSE Bankex shoot up 8 per cent. Among the top gainers in the index were Union Bank, IndusInd Bank, HDFC Bank and Bank of Baroda , which were up around 10 per cent each.

Expectations of gains from the possibility of lower interest rates shot the rate-sensitive BSE Realty and BSE Auto indices up by around 6 per cent each. The stocks of HDIL and Sobha Developers surged 14 and 10 per cent respectively.

The stock of Hero Motocorp was up 11 per cent while Tata Motors and M&M notched gains of 6-7 per cent . The biggest sector index gainer was the BSE Capital Goods index, up a hefty 11 per cent for the week.

Among individual stocks, Pantaloon Retail India and Future Capital Holdings were up 20 and 12 per cent for the week. PRIL sold off most of its 53.67 per cent stake in Future Capital to an affiliate of Warburg Pincus . The resultant benefit from reduced debt spurred PRIL, while a fund infusion added to the benefit of Future Capital.

The Prime Minister's plans to push development of infrastructure such as ports, airports, roads and elevated rail lines helped many infrastructure stock gain. The stocks of Gammon India, NCC and Larsen & Toubro gained between 10 to 15 per cent.

The stocks of IRB Infrastructure and Sadbhav Engineering moved up between 7 per cent and 9 per cent.

Buzz that Essar Oil was looking to dilute stake in the refinery business prompted the stock to run up 9 per cent for the week.

Reports that Jaypee Infratech's Yamuna Expressway was set to become operational soon sent the stock spiralling to close with a gain of 7 per cent for the week. News that Macquarie Bank had bought 44.16 lakh shares in Jain Irrigation could have pushed the stock to its week's gain of 6 per cent.

Airline stocks too gained significantly through the week, on hopes of FDI coming through and that lower crude oil prices could reduce fuel costs.

Jet Airways and SpiceJet were up 20 and 18 per cent respectively. The stock of Kingfisher Airlines was up 10 per cent.

But it wasn't a romp for all stocks. Reports that the India Cements' vice-chairman and managing director was summoned by the CBI in its investigation of the YS Jaganmohan Reddy case sent the company's stock plummeting 5 per cent on Friday. The stock ended the week with a 3 per cent loss.

Gold prices tore through the Rs 30,000 per ten gram mark leaving the stocks of jewellery players floundering.

Rajesh Exports dipped 6 per cent and Titan Industries lost 4 per cent, though Gitanjali Gems closed on a flat note. These stocks fell on expectations that demand would take a beating because of high gold prices.

COMMENT NOW