Weekly Market Wrap: Indices end mildly higher; FMCG top sectoral loser

Indian equity benchmarks for the week to February 7, 2025 ended mildly higher aft the Union Budget 2025 with focus on fiscal subject aimed astatine spurring consumption. For the reappraisal week, the NSE Nifty50 gained 0.22 per cent oregon 51.55 points to 23,559.95, portion the 30-share BSE Sensex added 0.46 per cent oregon 359.6 points to settee astatine 77,860.19. Broader markets ended connected a mixed note, with the Nifty Midcap 100 scale ending a tad lower, with the Nifty Smallcap 100 scale precocious 0.6 per cent. Meanwhile, Bank Nifty besides ended connected a affirmative enactment with gains of implicit 1 per cent.

The gains in the header indices travel adjacent arsenic the markets fell in 4 retired of 5 trading sessions arsenic the Nifty50 scale recorded a important uptick of 1.6 per cent connected February 4. Nevertheless, investor sentiment remains cautious amid mixed to subdued net and relentless selling of home shares by the FIIs.

Top Nifty gainers and losers for week to January 3, 2024 

Top gainers during the week to February 7 see stocks similar IndusInd Bank (up implicit 8 per cent), Bajaj Finance (up implicit 7 per cent), Mahindra & Mahindra (up 7 per cent), Maruti Suzuki ( up 6 per cent) and ITC Hotels ( up 6 per cent). 

While apical laggards during the week were stocks including Power Grid Corporation (down 8 per cent), L&T (down implicit 6%), Bharat Electronics ( down implicit 5 per cent), Trent and ONGC (down implicit 5 per cent each).

Top Sectoral gainers and losers 

Sectorally, pharma, car and metallic stocks led the gains during the week, with gains of up to 3 per cent. Other sectoral gainers included media and IT stocks. However, the FMCG and PSU Bank indices saw the astir drag, with the former ending little by arsenic overmuch arsenic 3 per cent.

Other indices like Nifty PSE and Nifty Energy besides saw crisp cuts of up to 4 per cent.

Technicals

Rupak De, Senior Technical Analyst astatine LKP Securities said, "The Nifty remained volatile arsenic the RBI Governor announced the monetary policy. However, the volatility did not propulsion the scale beneath the 21 EMA connected the regular timeframe, signifying a affirmative short-term trend. The inclination is apt to stay affirmative arsenic agelong arsenic the scale stays supra 23,450. On the higher end, absorption is placed astatine 23,700. A decisive determination supra 23,700 could pb to a rally toward 24,050."