STIMULUS PACKAGE FAILS TO CHEER MARKET

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The market has been disappointed by the two tranches of stimulus announcements done by Finance Minister Nirmala Sitharaman on May 13 and May 14, as on both days there was no major trigger for the market to take a leap. The stock market has not been happy with the announcements . Certainly, it will wait for the remaining announcements but it will jump only on bold measures.The market  completely cooled off after a Rs 20-lakh-crore stimulus package was announced by Prime Minister Narendra Modi on May 12. Sensex jumped 2 % on 13 May but erased all gains to settle almost 3 % lower on May 14. Today  30 stocks fell over a percent in intraday trade but ended flat at 31097.

Market trading was in  red after government’s economic package failed to impress investors. Among the sectors  banks and auto fell most with down over a percent each. Within the auto sector, the top losers included Mahindra & Mahindra and Ashok Leyland which are down 3-4 %. Maruti Suzuki, Bajaj Auto, Hero MotoCorp and Tata Motors also down. Bank Nifty  down 1.5 % dragged by IndusInd Bank and ICICI Bank which fell over 2 % each followed by RBL Bank, Axis Bank, Bandhan Bank and HDFC Bank and PVR, Inox Leisure and Kajaria Ceramics stocks which have hit new 52-week low. While The metal index added a percent led by SAIL which jumped over 6 % and was one of the most active stocks.The other  active stocks included Tata Power, Tata Motors, NBCC and Ashok Leyland,BHEL .
WEEKLY TOP GAINERS-VEDL,BHARTIARTEL,MARUTI,NTPC,UPL,L&T
WEEKLY TOP LOSERS-RELIANCE,GAIL,ICICIBNK,HDFC TWIN,CIPLA,SBI,WIPRO