Stock Market This Week: Top Gainers and Losers That Moved Nifty and Sensex

The Indian stock market witnessed a volatile yet ultimately positive week as benchmark indices ended with modest gains. While bullish momentum returned after election-induced jitters, specific stocks stood out—either propelling the market upward or dragging it lower. Here's a comprehensive look at the top gainers and losers on the Nifty and Sensex, along with market insights and what investors should expect in the coming days.

Indices Snapshot: Nifty and Sensex Rebound

The Nifty 50 closed the week up by 1.8%, reclaiming the 23,300 mark, while the BSE Sensex advanced over 1,400 points, ending near 76,500. The sharp recovery followed a brief correction earlier in the week amid political uncertainty after the 2024 Lok Sabha election results.

Investor sentiment improved sharply post-election day as clarity emerged around the formation of the NDA government. Additionally, strong institutional inflows, cooling crude prices, and expectations of policy continuity underpinned market confidence.

Top Gainers of the Week

Several frontline stocks registered sharp rallies, driven by sectoral tailwinds, earnings momentum, and renewed investor confidence.

1. Larsen & Toubro (L&T) – Up 10.2%

Engineering giant L&T was among the week’s top performers. The stock soared following expectations of continued infrastructure push under the NDA-led government.

"L&T is well-positioned to benefit from sustained capital expenditure and order book expansion. With policy continuity assured, we anticipate stronger execution going forward," said Ruchit Jain, Lead Analyst at 5paisa.com.

2. NTPC – Up 9.5%

NTPC gained momentum on the back of improved visibility in power generation and increasing interest in green energy projects.

3. HDFC Bank – Up 7.3%

The banking major rebounded after several weeks of underperformance. FII buying resumed in banking names amid attractive valuations and stable macro signals.

4. Adani Ports – Up 6.8%

Adani Ports extended gains as the stock continued to recover from earlier regulatory scrutiny. Optimism around port-led growth and international logistics expansion boosted investor sentiment.

5. SBI Life – Up 6.5%

Life insurers rallied as bond yields stabilized, improving the outlook for their investment books. SBI Life, in particular, drew interest on the back of robust Q4 numbers.

Top Losers of the Week

Despite the broader positive trend, a few heavyweights faced selling pressure due to sectoral headwinds, valuation concerns, or company-specific developments.

1. Titan Company – Down 4.1%

The stock corrected as investors booked profits following strong gains in previous weeks. Margin pressure in the jewellery segment amid rising gold prices also weighed on the stock.

2. Hindustan Unilever (HUL) – Down 3.7%

HUL extended losses due to subdued rural demand and fears of weak volume growth in the near term. FMCG stocks overall underperformed during the week.

3. Cipla – Down 3.2%

Pharma stocks saw mild pressure amid regulatory updates from the US FDA. Cipla witnessed specific profit-booking despite a positive long-term outlook.

4. Asian Paints – Down 2.9%

Asian Paints fell on concerns about raw material cost inflation and aggressive competition in the decorative paint segment.

5. UltraTech Cement – Down 2.4%

Cement stocks retreated amid worries over pricing discipline and monsoon-related demand slowdown.

Sectoral Performance: Infra and Banks Lead, FMCG Lags

The Nifty Bank index outperformed, rising over 3.2% for the week, led by private banks. The Nifty Infra and Capital Goods indices also saw robust gains in anticipation of continued infrastructure spending.

In contrast, the FMCG and Pharma sectors lagged due to valuation concerns and margin headwinds. IT stocks remained range-bound as investors await cues from US macro data and Fed commentary.

Market Context: Post-Election Clarity Sparks Rally

This week’s recovery came after markets initially tumbled following a surprisingly narrow victory for the NDA in the general elections. However, swift government formation reassured investors.

“Markets hate uncertainty. The fact that the ruling alliance has secured enough seats and is forming a government with minimal disruption has helped sentiments improve dramatically,” noted Ajit Mishra, SVP - Research at Religare Broking.

Further, the Reserve Bank of India’s policy meeting on Friday maintained status quo on rates, aligning with expectations. However, a notable upgrade in FY25 GDP forecast from 7% to 7.2% also lifted the mood.

FII/DII Flow Trend

Foreign Institutional Investors (FIIs) turned net buyers during the week, especially on Thursday and Friday, reversing their earlier outflows. Meanwhile, Domestic Institutional Investors (DIIs) remained consistent buyers, supporting market resilience.

Investor Outlook: What Lies Ahead?

While the week closed on a positive note, volatility may persist in the near term as investors monitor the global interest rate cycle, monsoon progression, and corporate guidance post Q4 earnings.

Short-term triggers to watch include:

• US Fed policy and inflation data

• Progress of monsoon, critical for rural demand

• Cabinet formation announcements and policy priorities

• FII behavior post-political stabilization

"With policy continuity, India’s macro stability, and robust earnings growth, the medium-term outlook remains constructive. Investors may consider adding quality stocks on dips," suggested Mehul Kothari, AVP - Technical Research, Anand Rathi Shares.

The Indian equity market showed resilience this week, shaking off election-related anxiety. With top performers like L&T, HDFC Bank, and NTPC leading the charge and sectors like infrastructure and banking gaining traction, the markets appear to have entered a new phase of consolidation and opportunity. However, investors should brace for intermittent volatility and adopt a selective, long-term approach.