Indian stock market closed with gains on Friday, however, it ended in the red for the week. The market continued its positive move from the previous session but failed to gain in early trade. However, buying in ICICI Bank propelled the indices higher during the day. The last hour profit booking in the index major Reliance Industries ahead of the quarterly numbers pushed the market down from the highs of the day.
At the close on Friday, BSE Sensex added 138.59 points and closed at 52,975.80 while the Nifty gained 32 points and closed the day at 15,856.05. In the index heavyweights, ICICI Bank, ITC, State Bank, and Axis Bank were major gainers. On the losing side Reliance, Larsen & Toubro, HDFC Bank, and Hindustan Unilever contributed the most.
The biggest attraction of the day, however, remained the listing of the Zomato Limited. The food delivery company driven by technological support made a stellar debut with a 52.5 percent gain at Rs116 compared to the offer price of Rs76. It continued its up move, scaled a new high of Rs138 during the day, and closed at Rs125.85, a gain of 65.6 percent against the issue price. In the process, it crossed the market capitalization of Rs1 lakh crore. At the close of the trade, the company’s market capitalization stood at Rs98,731.59 crore – making it the 46th most valued company in India.
The share prices of telecom companies declined after the Supreme Court of India rejected Bharti Airtel, Vodafone Idea, and Tata Teleservices’ applications seeking re-computation of the adjusted gross revenue (AGR) dues. Shares of Vodafone Idea closed 9.6 percent lower, while that of Tata Teleservices (Maharashtra) declined five percent. Bharti Airtel recouped losses to end marginally higher.
Weekly Sector Scan
| Sector Index on NSE | % Gain or (loss) |
| Real Estate | 1.68 |
| IT | 0.88 |
| FMCG | 0.84 |
| Pharma | (0.25) |
| Sensex | (0.31) |
| SmallCap | (0.38) |
| Nifty | (0.42) |
| Metals | (0.70) |
| MidCap | (0.96) |
| PSU Banks | (1.40) |
| Bank Nifty | (2.01) |
| Auto | (2.18) |
