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

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 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%. On Friday, the S\&P BSE SENSEX settled at 81,904.70, rising 355.97 points, or 0.44%, while the NIFTY50 ended at the 25,114 level, surging 108.50 points, or 0.43%. 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 NIFTY50 index, Bharat Electronics (BEL) emerged as the top gainer of the week, surging 7.7%. Bajaj Finance (7%), Shriram Finance (6.8%), Infosys (5.6%), and Adani Ports (5.4%) also added strong momentum to the index. Also read: Retail inflation inches up to 2.07% in August; food prices remain in deflationary zone 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. Sectoral watch this week 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%). How the broader market performed this week 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. Also read: Top gainers and losers on September 12: BEL, Bajaj Finance surge over 3%, Eternal falls 2%; check full list 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. To add Upstox News as your preferred source on Google, click here.