The broader markets underperformed the benchmark indices during the week ended October 16, with the Nifty Midcap 100 index rising 0.6 percent, while the Nifty Smallcap 100 index ended marginally lower, declining around 0.1 percent.
For the week, the BSE Sensex rose 2256.94 points, or 3.11%, to 74,729.27, while the Nifty50 rose 625.7 points, or 2.77%, to 23,146.15.
The Nifty Midcap 100 index rose 0.6 percent during the week, led by gains in Tata Elxsi, KPIT Technologies, Suzlon Energy, Waaree Energies, UPL, Havells India, Hero MotoCorp, Hindustan Petroleum Corporation and Prestige Estates Projects. On the other hand, Yes Bank, ICICI Prudential Asset Management Company, Fortis Healthcare, Exide Industries, GE Vernova T&D India, LIC Housing Finance and Hitachi Energy India emerged among the key laggards.
The Nifty Smallcap 100 index ended the week largely unchanged, with gains in select stocks offset by losses in others. HBL Engineering, Zensar Technologies, Syngene International, Aditya Birla Real Estate, Aarti Industries, Tata Chemicals, Bandhan Bank, Anand Rathi Wealth, Brainbees Solutions, KFin Technologies, Cohance Lifesciences, BLS International Services, Firstsource Solutions and Crompton Greaves Consumer Electricals advanced between 5 percent and 16 percent. In contrast, Anant Raj, RBL Bank, Physicswallah, Sai Life Sciences, Reliance Power and Neuland Laboratories declined between 5 percent and 10 percent.
Among sectoral indices, the Nifty IT index surged 11.7 percent, posting its biggest weekly gain in 18 years, driven by better-than-expected Q2 earnings. The Nifty Media index jumped more than 6 percent, while the Nifty Auto index gained 3 percent. The Nifty Realty and Nifty Defence indices advanced 2.7 percent and 2.2 percent, respectively. On the other hand, the Nifty Healthcare index declined 1 percent, while the Nifty Pharma and Nifty FMCG indices fell 0.7 percent and 0.55 percent, respectively.