Top Movers

The clouds shadowing markets over the past two weeks lifted on positive global sentiments after Greece passed austerity measures to control debt and data allayed concerns over slowing US manufacturing output. Indian markets recouped lost ground, with the bellwether indices BSE Sensex and NSE Nifty gaining a hefty 2.9 per cent each. Broader indices too kept pace, with the CNX 500 index up 3 per cent. The BSE Midcap and Smallcap indices outperformed bellwethers, ending the week with a gain of 3.4 and 3.8 per cent each.

Among sector indices, the BSE Capital Goods, Realty and FMCG indices were the top performers, all up between 3.9 and 4.2 per cent. Closely following these was the BSE Bankex which was up 3.7 per cent. The BSE Oil & Gas index was the lone index left out in the cold, down 0.1 per cent.

Moving on to individual stocks, Apollo Global Management decided to invest up to Rs 2,250 crore in the Welspun Group . The stocks of Welspun Projects, Welspun Corp and Welspun India posted gains of 3 to 8 per cent by the close of the week.

Sugar stocks shot up after the government allowed an additional five lakh tonnes of sugar to be exported. The stocks of Dhampur Sugar, Bajaj Hindustan and Shree Renuka Sugars gained between 9 and 13 per cent through the week.

Reports that FDI policy in multi-brand retail may emerge by August pushed up the stocks of many a retailer. Trent, Shoppers' Stop, Jubilant Foodworks, Provogue and Pantaloon Retail gained between 4 and 14 per cent. The stock of TCS shrugged off reports that the IT department had sent the company a notice on claiming tax benefits for onshore services and ended with a gain of 5 per cent, as the company stated that it had received no such notice.

Oil stocks HPCL, IOCL and BPCL gained between 3 and 6 per cent at the start of the week on duty cuts and hikes in the prices of diesel and cooking fuel, but lost ground over the week to close with moderate gains.

It was not a sanguine week for all stocks though. The stock of Sterling Biotech dropped 8 per cent on reports that the company was raided by the I-T department on alleged tax evasion.

The stock of the beleaguered Reliance Industries fell 4 per cent in Friday's trade, ending the week with a loss of 1.1 per cent, on CBI's search of the house of Mr V. K Sibal, a former Director-General of Hydrocarbons. The stock of Bharti Airtel declined 2 per cent by the end of the week after being downgraded by CLSA.

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