Weekly Review of Stock, for the week ended 22 December, 2017

Weekly Review of Stock, for the week ended 22 December, 2017:

The Stock Market Tips rallied in the week ended Friday,22 Dec, on the back of BJP winning effect in Gujarat and HP together with strong global markets The Sensex opened the week at 33,364 and made a peak of 33,964 & a low of 32,595 closing the week at 33, 940. Thus it closed with the weekly gain of 478 points on the other hand, the Nifty opened the week at 10,263 & made a peak of 10,501, reached the bottom of 10,074 and closed the week at 10,493. Thus the Nifty closed with the weekly gain of 160 points. 

Key Stock movements during the Week: Moving on the key stocks, ICICI Bank spurted 4.27% at Rs 316.40. The bank’s subsidiary ICICI Securities has filed a DRHP with Sebi for an IPO of up to 6.44 cr equity shares. 

HDFC Bank was up 0.23% at Rs 1,877.35 after banks said for raising of funds up to Rs 24,000 crore, while IndusInd Bank dropped 1.85% at Rs 1,648.85 on bank’s amalgamation of Bharat Financial Inclusion. 

Wipro rose 3.9% at Rs 301.10 on its announcement of partnership with Headspin. Stocks of Bharti Airtel rose 2.33% at Rs 531.05 on its entering into a pact with Millicom Cellular, while Hero MotoCorp surged 7.72% at Rs 3,772.20. 

Dr Reddy’s fell 1.64% at Rs 2,333.05. Coal India was down 1.86% at Rs 266. The HDFC was down 0.84% at Rs 1,708.35 on its approval of raising funds by issuing equity shares of Rs 13000 crore.