Stocks to buy | Sumeet Bagadia's stock recommendations: Over the last week, the benchmark indices staged a sharp recovery. The Nifty ended 2.8% higher, while the Sensex gained 2250 points. Among sectoral indices, IT was the top performer, rallying over 10%. In contrast, despite the strong market momentum, the Healthcare and FMCG indices declined by more than 1%.
IT led sectoral gains with a 3.92% rise, while Media, Cement, Auto, Metal and PSU Bank also advanced. Mid Small Financial Services, Consumer Durables and Healthcare faced selling pressure.
Among the A-listed stocks on Dalal Street, Tata Elxsi shares were the top-gaining stocks with nearlyu 23% weekly gains, followed by Gallantt Ispat with 21%, 63 Moons Technologies with 20%, Tips Music, and Tech Mahindra logging around 20% gains last week.
Among the A-listed losers, KRN Heat Exchanger shares topped the list, losing around 17%, followed by Yes Bank and Avalon Technologies shares, which lost around 14% last week. Shares of HDB Financial Services lost more than 12.50%.
Consumer inflation hovering near the upper end of the RBI's tolerance band and a hotter-than-expected WPI print pushed the benchmark bond yield to a multi-year high, reviving fears of further monetary tightening. While the RBI's move to raise the daily CRR maintenance requirement to absorb surplus liquidity added to the caution, sentiment improved steadily as the central bank's special dollar window for oil marketing companies and tighter hedging norms drove a rebound in the rupee.