Biocon, JK Tyre, last week among the best medium and small companies; check the full list

Domestic stock benchmarks Sensex and Nifty ended the previous session at their fresh closing highs as investors remain positive on the market’s long-term outlook due to healthy macroeconomic indicators, while global indicators also improve as fears of a recession in the US have sparked. relieved.

Domestic stock benchmarks Sensex and Nifty ended the previous session at their fresh closing highs as investors remain positive on the market’s long-term outlook due to healthy macroeconomic indicators, while global indicators also improve as fears of a recession in the US have sparked. relieved.

The Sensex opened 153 points higher at 64,068.44 and jumped 853 points in intraday trade to hit an all-time high of 64,768.58. Finally, the 30-stock package closed 803 points, or 1.26 percent, higher at 64,718.56.

The Sensex opened 153 points higher at 64,068.44 and jumped 853 points in intraday trade to hit an all-time high of 64,768.58. Finally, the 30-stock package closed 803 points, or 1.26 percent, higher at 64,718.56.

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The Nifty50 also hit a fresh high of 19,201.70 in intraday trade and ended the day at 19,189.05, up 217 points or 1.14 percent. This was the third consecutive session of gains for the Sensex and the fourth session of gains for the Nifty in a row.

The BSE Midcap index hit an all-time high of 28,791.86 in intraday trade before closing down 0.67% at 28,776.20. The BSE Smallcap index failed to scale its new high but ended with a decent gain of 0.51% at 32,602.14.

”The week started with a relatively flat trend in the domestic market, as global stocks showed a negative trend due to concerns about economic growth caused by political instability in Russia. However, the positive economic surprises in the global market and the progress of the southwest monsoon provided a much-needed boost, allowing the domestic market to hit new highs with renewed vigor,” said Vinod Nair, head of research at Geojit Financial Services.

”The market upswing was further fueled by strong FII inflows, HDFC merger update and narrowing current account deficit. Globally, investor confidence was buoyed by a favorable Q1 US GDP revision, a drop in jobless claims and positive results from the Fed’s stress test of US banks,” Nair added.

The IT, Pharma and Auto sectors emerged as the best performers throughout the week, contributing significantly to the overall market performance. Mid- and small-cap stocks recovered from the previous week’s losses, indicating renewed investor interest in these segments, according to Nair.

Last week’s top mid-cap gainers:

According to the Nifty Midcap 100, the top five gainers were Biocon, Indian Bank, Bandhan Bank, Fortis Healthcare and L&T Finance Holdings.

According to BSE Midcap, the top five gainers were Nippon Life India Asset Management, Biocon, Bharat Electronic Ltd, L&T Finance Holdings and Motilal Oswal Financial Services.

Last week’s top small players:

According to the Nifty Smallcap 100, the top five gainers were UTI Asset Management Company, Century Textiles and Industries, NLC India, Brightcom Group and Suzlon Energy.

According to BSE Smallcap, the top five gainers were Renaissance Global, Shilpa Medicare, JK Tire and Industries, 63 Moons Technologies and Kellton Tech Solutions.

”After the initial rally, the Nifty gradually increased during the day and finally settles around the day’s high of 19,189.05. All sectors except metals contributed to the rally, with a recovery in IT majors combined with a continued boom in banking, financial and auto heavyweights playing a key role. Broader indices also followed suit and rose nearly half a percent each,” said Ajit Mishra, Religare Broking Ltd. head of technical research.

”Participants are comforted by the stability in global markets amid various indications, and we expect the prevailing tone to continue. We are now looking at 19,350+ zone in Nifty. As all sectors are driving the move now, stock selection needs to be the focus and the same goes for the mid and small cap package,” Mishra added.

Where is the Nifty50 headed?

”Indian indices are on a record high, ending June with a gain of 3.5 percent on the back of strong FII inflows (~Rs.20,900 cr MTD) and southwest monsoon fueling the gains. investor sentiment. Additionally, an upward revision in US first-quarter GDP and an unexpected drop in jobless claims helped ease recessionary fears,” said Siddharth Khemka, head of Motilal Oswal Financial Services Ltd. head of retail research.

Khemka expects the upward trend in Indian stocks to continue in the near term. Next week, the market will take cues from economic data that will be released both domestically and globally. Investors will also be watching the FOMC minutes for insight into the Fed’s future direction,” he said.

Bulls continued to dominate the market as the Nifty hit a new all-time high and the gain followed a consolidation period breakout, indicating a strong bullish reversal, said Rupak De, senior technical analyst at LKP Securities.

”The overall trend in the near term seems positive as the index is consistently above its moving average. Furthermore, the momentum indicator RSI has shown a sharp crossover on the daily time frame, indicating strong momentum,” De said.

”Looking ahead, the index has the potential to move towards 19,450 in the short term, indicating further upward movement. However, on the downside, there is support at 19,000. Overall, the market is currently showing bullish features with the Nifty making fresh highs as long as it sustains above 19,000,” added De.

Further, Religare Broking’s Ajit Mishra suggests maintaining a ‘buy on dips’ approach as we look at the 19,350-19,500 zone in the Nifty. In case of any declines, the 18,700-18,900 zone would provide the necessary cushioning. Along with the growth of banks and services. According to Mishra, all major industries are now in sync. Participants should align their positions accordingly and avoid conflicting trades.

Disclaimer: The opinions and recommendations expressed in this article are those of individual analysts. They do not reflect the views of Mint. We recommend that investors consult certified experts before making any investment decisions

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