Sensex reclaims mount 38K, rallies 1,300 points: 30 stocks which rose 10-20% in a week
A blockbuster week for India markets as Sensex and Nifty50 surpassed their crucial resistance levels and closed with hefty gains for the week ended March 15. The S&P BSE Sensex rallied by 1,353 points or 3.69 percent while the Nifty50 rose 3.5 percent in just 5 trading sessions. The S&P BSE Sensex closed above 38,000 for the first time since September 14, 2018, while the Nifty50 also reclaimed 11,400 for the first time since September 18, 2018, and is all set to hit higher target towards 11,500 levels.
Benchmark indices ended this week on a strong note with Nifty closing above 11400 levels. Sensex reclaimed 38,000 levels led by a rally in banking stocks. Strong Global cues and aggressive buying from foreign investors are some triggers that led to positive market sentiments, The benchmark indices outperformed the broader market in the week gone by as the S&P BSE Mid-cap index rose 2.4 percent while the S&P BSE Small-cap index was up 2.1 percent for the week ended March 15.
In the S&P BSE Mid-cap index, as many as five stocks rose 10-20 percent which include names like NLC India, Adani Transmission, NBCC India, Edelweiss Financial Services, and IIFL Holdings.
In the S&P BSE Small-cap index, as many as 69 companies rose 10-40 percent in just five days which include names like Indosolar, ABG Shipyard, Orchid Pharma, The Byke Hospitality, Indo Count Industries, and IIFL Holdings.
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