NEW DELHI: The domestic stock market rose significantly over the past week, driven by purchases of technology, paper and some cement stocks. Bank shares were also bought, but energy counters were under selling pressure.

With no major domestic event planned, the Indian market will be led by global counterparts this week. The situation in Russia-Ukraine will be closely monitored. Because crude oil plays such a critical role in determining the fate of Indian macros, crude oil price movements will also be closely monitored.

“With increased allocations to ELSS funds as the end of the fiscal year approaches, DII’s buying momentum is likely to continue. In the absence of a positive trigger, market movements are expected to remain within range and investors should continue to invest in selective, fundamentally resilient stocks,” said Yesha Shah, Head of Equity Research, Samco Securities.

Stocks in the spotlight last week:
Angel One: Shares of Angel One rose more than 25 percent during the week amid impressive user base growth and heavy Vanguard purchases. The ETF giant bought 15.48 lakh shares of the company on Thursday through a bulk deal.

Ruchi Soya: Shares of Ruchi Soya jumped 25 percent last week after the Patanjali Ayurved-owned firm announced its sequel on March 24.

Bandhan Bank: Shares of Bandhan Bank rose 15 percent as RBI amended some rules that will benefit the company. The guidelines provide relief for NBFC MFIs by removing interest caps and increasing household income to Rs 300,000 from Rs 1,25,000 in rural areas and Rs 2,000,000 in the city.


JK Paper: There is a huge demand for the company’s stock as it has seen price increases despite the fact that commodity prices have not risen significantly. The stock rose 12 percent during the week.

Jubilant Foodworks: Shares of Domino’s India operator plunged 11 percent after the company’s CEO announced his resignation. The CEO is likely to join Eureka Forbes.

Oil India, Mangalore Refinery: As crude oil prices collapsed, oil refinery stocks also plummeted. Oil India was down 7 percent and Mangalore Refinery and Petrochemicals were down 6 percent.

IndiGo, SpiceJet: Shares of Interglobe Aviation, which operates IndiGo, rose more than 4 percent as India opened international routes to private companies. The stock advanced despite the sharp rise in fuel prices for air turbines. Meanwhile, SpiceJet ended flat with a negative bias, down 0.17 percent.

Paytm: Shares of Paytm operator One97 Communications fell more than 25 percent after RBI banned Paytm Payments Bank from onboarding new customers and ordered a forensic examination of its IT system.


This post paytm stock quote: The week that was: Paytm, JK Paper among key stocks in the spotlight was original published at “https://economictimes.indiatimes.com/markets/stocks/news/the-week-that-was-paytm-jk-paper-among-key-stocks-under-spotlight/articleshow/90334925.cms”

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