Indian Stock Market Last Week Review

At last the Nifty closed above the 6100 level at the end of the week with a very volatile session. It traded all the day in the red. For the week it is down about 0.5% and the Sensex close to down about 1%.

The big drags of the last week is Tata Steel because of the equity dilution plan. The stock came down around 7-8% in the last couple of days. Moreover, there was profit taking in some of the major auto companies like M&M and Tata Motors which have gone up quite a bit.

The advance-decline ratio was negative. For the primary market also, it was not a good session for this week. The new three listings IPO were in the red - Ramky, Orient Green and Electrosteel Steels. But finally Electrosteel managed to close above the Rs 11 IPO mark. But the other two could not. Ramky Infra closed about 12% lower than its IPO price. Orient Green went to Rs 40 but came back and closed around Rs 44.

Some financial stocks had a bull run at the end of week while Indiabulls Finance had a great run and IFCI was very strong.

Regards,
Free Indian Stock Tips Team