D-Street: As recovery in D-ST phase moves, 15 BSE 500 stocks rose 10-29% in last week

New Delhi: Domestic stocks staged a strong correction last week, even as the Fed said a slowdown in the US was a real possibility and was committed to easing inflation. A glimmer of hope for domestic stocks was a fall in crude oil prices amid concerns that weak global growth could dampen demand in developed markets. Bargain hunting also played its part in propelling the shares higher.

“Momentum readings were very sold and RSI The readings showed a positive divergence on the chart. Sentiment changed as Nifty 50 crossed 15,400 and thus, we saw a pullback move, which was a lot,” said Ruchi Jain and 5paisa.com.

The NSE Nifty for the week ended 405.75 points or 2.65 per cent higher at 15,699.25. The BSE Sensex ended the week higher at 52,727.98, up 1,367.56 points or 2.66 per cent. The BSE Midcap and BSE Smallcap indices rose 2.38 per cent and 1.61 per cent, respectively.

The broader BSE 500 index climbed 513.97 points, or 2.48 per cent, to 21,223.98. 340 stocks in the index rose during the week, with 15 stocks rising 10-29 per cent. Some stocks fell as much as 22 per cent in an otherwise strong week.

ITI, which produces network gear, topped the BSE 500 chart, up 28.52 per cent for the week.

It climbed 19.14 per cent to Rs 468.05. Public sector MMTC gained 16.22 per cent to Rs 39.75. , and climbed 13-16 percent for the week. Jumped 11.74 percent to reach Rs 2757.30. The two-wheeler maker has decided to hike prices of motorcycles and scooters by up to Rs 3,000 with effect from July 1 to partially offset the ever-increasing overall cost inflation including commodity prices.

After the two brokerages rose 11.43 per cent to Rs 492.65 for the week and Angel One suggested over 100 per cent over the counter. Jumped 10.67 percent to reach Rs 504.25. INOX Leisure and PVR get approval SEBI and stock exchanges in relation to the proposed merger, three months after the merger was announced. The next step for the two multiplex owners is to get clearance from the National Company Law Tribunal (NCLT), which will Nirmal Bang Institutional EquitiesIt may take another six months. PVR for the week rose 8.64 per cent to Rs 1,844.65.

Strides Pharma rose 10.75 per cent to Rs 342.30 for the week. Out of this, an increase of 9.55 per cent was seen on Friday itself, when Strides Group company, in association with Akston Biosciences Corporation and Biolexis, announced positive results of Phase II and III clinical trials of SARS-CoV-2 vaccine in India.

L Infrastructure EPC was up 9 per cent after the company announced winning multiple orders worth Rs 1,092 crore in the early part of the week.

Big losers included for the week

, which fell 22.25 percent to Rs 35.10. Vedanta, Star Health, MRPL and Bharat Dynamics fell 16 per cent, 14 per cent, 11.58 per cent and 9.95 per cent, respectively.

SpiceJet, KPR Mill,

and fell 8-10 percent for the week.

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