The BSE Sensex had closed at 38040.57 on August 14, 2020. On August 14, 2020, the Sensex closed at 37877.34.
While FIIs have been net buyers, DIIs have been net sellers on all 5 business days.
FIIs have pumped in Rs. 2,130.36 crore into the market. DIIs have taken out Rs. 4,420.75 crore from the market.
Market is in a peculiar territory. Market is giving abnormally high value to companies which are struggling due to the impact of COVID-19. A few of these sectors are aviation and automobile. This week we also got the news that Russia has successfully tested its COVID vaccine and the Russians are very confident about it. Even though WHO has raised a few red flags on it, it will be interesting to see if the Russian vaccine can meet all the regulatory standards. We have already lost 6 months due to pandemic and the world is eagerly waiting for a vaccine.
InterGlobe Aviation (IndiGo) which was the top gainer for the week had reported a consolidated loss of Rs. 2,844.29 crore in Q1FY21. The company has to raise more money through borrowing or other means to remain operational. If the company reports one more quarter of similar result, then the reserve may also go into negative territory.
Top Gainers on Nifty 100 Index
- InterGlobe Aviation
- Motherson Sumi
- Lupin
- Divi's Lab
- JSW Steel
Motherson Sumi also reported a consolidated loss of Rs. 1,405.96 crore in Q1FY21. Revenue for the quarter too fell by almost 50%. According to this Bloomberg Quint
report, the Chairman of the company has said that the company may spring a surprise after COVID-19. Market may be expecting that the struggle for the automobile and auto ancillary companies will be over very soon.
Divi's Lab had announced its Q1FY21 result on August 8, 2020. The company had reported a jump of 80.61% in consolidate PAT on YoY basis. Market lapped up Divi's Lab's shares. Later in the week stock price settled down and did not see any further upward movement. Divi's Lab and Lupin stocks are trading near their 52 week high.
Top Losers were
- Container Corporation
- Hindustan Zinc
- Eicher Motors
- Bandhan Bank
- Bharti Airtel
Container Corporation reported result for Q1FY21 on August 7, 2020 after the market close. The profit fell by almost 80% YoY which was aptly noticed by the market and the stock price fell by almost 17% in a week. Even while Zinc price jumped during the week, Hindustan Zinc stock price fell by almost 9%. One reason could be profit booking by the traders and short term investors.
Bandhan Bank has been losing its value from a month and the week was not any exception.
Among the midcap stocks, the top gainers were
- Emami
- Ashok Leyland
- Indiabulls Ventures
- Bharat Forge
- Indian Hotels
Bharat Forge, like Motherson Sumi, reported loss during Q1FY21 and the market was similarly optimistic about the stock. Ashok Leyland, another beaten down stock, made a big recovery.
Top midcap losers were:
- RBL Bank
- Aarti Industries
- Future Retail
- Coromandel International
- Manappuram Finance
There were a few surprises among the smallcap gainers. Top gainers were
- IDFC Ltd
- Lemon Tree Hotels
- Indiabulls Real Estate
- Ashoka Buildcon
- Lux Industries
Top losers were
- Aegis Logistics
- Lakshmi Machine Works
- Kaveri Seed
- Birla Corporation
- Sunteck Realty
