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The stock market has seen a sharp jump this week. The growth recorded in the market during the week has been the biggest weekly gain in the market since February 2021. There were many signals during the week which led to buying in the market. The ongoing buying by FIIs, expectations about the ongoing negotiations between the US and India regarding tariffs and the forecast of monsoon being above normal, all these factors are giving growth to the market. However, the results of the fourth quarter are yet to come out which can determine the direction of the market going forward.
How was the market trading this week
Last week, the Sensex jumped 3,395.94 points or 4.51 per cent to close at 78,553.20, while the Nifty50 gained 1,023.1 points or 4.48 per cent to touch 23,851.65. During this period, the BSE's large-cap, mid-cap and small-cap index also registered a gain of more than 4 per cent. All sectoral indices closed in the green, with the Nifty Realty and Private Bank index gaining 7 per cent. The Nifty Bank index rose 6.4 per cent, the PSU Bank index rose 5.6 per cent, the Media index rose 5 per cent and the Oil & Gas and Auto index rose 4 per cent. After being net sellers for two weeks, foreign institutional investors were net buyers this week and bought equities worth Rs 14,670.14 crore, while domestic institutional investors sold equities worth Rs 6,470.52 crore. Where did the earnings happen? During the week, more than 100 stocks achieved double digit returns. Out of this, more than 25 stocks registered more than 15 percent and 6 stocks registered more than 20 percent returns. Among the earning stocks, Mercury EV-Tech has gained more than 28 percent, Cupid has gained more than 23 percent, Goldiam International and Magellanic Cloud have gained more than 21 percent, Fino Payments Bank has gained more than 20 percent, Rajoo Engineers has gained more than 20 percent.
Read More: IPO News: Mumbai's luxury food service company is bringing its IPO, filed draft papers
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