Weekly Market Recap: Nifty Rebounds, Top Performers and Sector Highlights

Weekly Recap

Markets ended their six-week slide, with Nifty regaining ground lost in the previous week. Here's our take on this week gone by, some stories you might have missed out on, and our thoughts on what to do going ahead, in your weekly stock market report.

Turning Around?

• Independence Day week brought a dose of optimism to D-Street, with investors spotting opportunities that lifted the Nifty 1.1% above last Friday’s levels.
• Broader indices joined the upmove — BSE Large-cap and Mid-cap rose nearly 1% each, while the Small-cap index gained 0.4%.
• Yet, volatility hasn’t gone away. India VIX climbed 2.7% over the week, signalling that market jitters may persist a bit longer.

The Big Stories

• A big story last week was S&P upgrading India’s sovereign credit rating to BBB (stable) — the first upgrade since 2007, bringing it back to a level last seen 35 years ago.
• On the global front, all eyes were on the Russia–US summit in Alaska on Friday, though it ultimately failed to produce a ceasefire in Ukraine.

The Winners

• Apollo Hospitals led the pack, surging 10.4% to a record high after Q1 results beat estimates with a stellar 42% profit growth.
• Eternal was the runner-up, posting a 5.8% gain last week on Q1 results that highlighted strong growth in its quick commerce business, Blinkit.

The Losers

• Adani Ports extended the group-wide slump of recent weeks, emerging as the top loser, even as its net sales continue to post solid year-on-year growth.
• Bajaj Finance also showed weakness during the week, though S&P upgraded its issuer credit rating after market hours, a move that could bode well for future growth. 

Meanwhile…

• In his Independence Day address from the Red Fort, Prime Minister Narendra Modi announced plans for a significant GST rate cut ahead of Diwali this year.
• In China, industrial output and retail sales growth slowed to their weakest pace since December 2024, missing forecasts amid weak demand and the ongoing trade war with the US.

Market Brief

Market Outlook

Our Take

• After six weeks of weakness, the bounce in buying interest signals a shift in sentiment and could offer investors selective entry points.
• For the coming week, we expect the Nifty to trade with a sideways-to-bullish bias, within a projected range of 24,200–25,000.

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