Weekly Market Wrap: SENSEX, NIFTY50 rise 1.5%, broader market rallies 2%; BEL, Bajaj Finance lead gains

The equity benchmark indices extended their winning streak for the second week on Friday, September 12. The NIFTY50 surged 373 points, or 1.5%, during the week, while the BSE SENSEX gained 1,193.94 points, or 1.5%.

Market participants remained optimistic as India-US trade talks are expected to resume next week in Washington. Recent warm exchanges of messages between Prime Minister Narendra Modi and US President Donald Trump signal a potential easing of bilateral tensions.

Investors are looking forward to Federal Reserve’s interest rate meeting scheduled next week.

On the flip side, Trent (-7.2%), Titan Company (-2.5%), Eternal (-2.4%), IndusInd Bank (-2.2%), and Hindustan Unilever (-2%) ended as the week’s biggest losers.

On the sectoral front, Nifty IT (4.3%) led the gains, followed by Nifty PSU (2.9%) and Nifty Metal and Nifty Auto, rising 2.1% each.

Oracle Financial Services Software (4.3%), Coforge (6.4%), and Infosys (5.6%) led the Nifty IT index gains during the week.

Meanwhile, Nifty Consumer Durables was the sole sectoral loser for the week, declining by 1%. Key laggards included Crompton Greaves (-4%), Blue Star (-3%), and Titan Company (-2.5%).

During the week, the Nifty Midcap 100 and Nifty Smallcap 100 outperformed the broader market, each rallying by 2%.

On the Nifty Smallcap 100, JBM Auto (16.2%), Hindustan Copper (14.7%), Neuland Laboratories (11%), Titagarh Rail Systems (10.4%), and Data Patterns (9.5%) led the gainers.

In contrast, Godfrey Phillips (8.5%), Crompton Greaves (4%) and The Ramco Cements (3.6%) were the main losers on the index.

On the Nifty Midcap 100, Waaree Energies (12.9%), Mazagon Dock (9.5%), Bharat Dynamics (8.5%), Oracle Financial Services (8.4%) and SBI Cards and Payment Services (8.2%) were the main contributors. On the flip side, BSE Limited (5.1%), Jubilant Foodworks (3.2%) and Sona BLW Precisions (2.9%) were the top losers.