Weekly market wrap: Sensex, Nifty gain over 2% each; Realty, PSU Bank indices gains 5% each

Indian equities for the week to December 6, 2024 ended higher after the RBI maintained status quo for the eleventh time. Sensex during the week after 4-straight days of gains ended higher by 2.4 per cent while the Nifty50 index ended 2.27 per cent higher.

The gains in the indices come even as the Federal Reserve's Jerome Powell's comments during the week led to a cautious view on the rate cut path by the world's most developed economy.

Gains in the indices are also witnessed as FIIs have turned net buyers in the Indian equities with the net purchase of as much as Rs 13,763.9 crore until December 5 i.e. in the last 4 sessions of December month.

Top Nifty50 gainers and losers

From the Nifty50 pack, gainers include Titan ( up over 6 per cent), followed by counters such as UltraTech (up 6 per cent), Adani Ports (up 6 per cent), Apollo Hospitals ( up 5.77 per cent) and Tech Mahindra ( up over 4 per cent) among others.

However, top losers include counters like Cipla (down over 3 per cent), followed by HDFC Life (down nearly 3 per cent), Hero MotoCorp (down nearly 3 per cent), Asian Paints (down over 2 per cent) and Bharti Aitel (down nearly 2 per cent).

Top sectoral gainers and losers

As increase in housing prices across cities gained traction, realty index topped gainers list with gains of over 5 per cent on the Nifty Realty index. Also PSU Banks remained second on the list with nearly equal gains of 5 per cent. Other top gainers include Nifty Metal and Nifty Media each gaining over 4 per cent.

Broader markets also outperformed the frontline indices with Nifty Smallcap 100 index gaining 4.5 per cent and Nifty Midcap 100 index adding 4 per cent each during the week.

The Nifty FMCG amid news of the GST rate hike for few of the items ended in the red with a mild cut.