Top 3 Gainers and Losers of the Week

Nifty50 Index Hits Fresh All-Time High

The NSE benchmark Nifty50 index reached a fresh all-time high of 24,861.15 on Friday, surpassing its previous peak of 24,854.80 recorded on July 19. The index opened the session at 24,423.35, and as the day progressed, it gained momentum to log a new high and closed at this record level. For the week, the Nifty50 extended its winning streak to eight straight weeks, marking its best streak of weekly gains since January 2018. Interestingly, the index ended in negative terrain in four out of five trading sessions but still managed to eke out gains of over 1%.

Top Three Gainers of the Week from Nifty500 Index

MMTC

MMTC, a public sector undertaking (PSU), registered a fresh 52-week high on Thursday with a rally of 18%. However, the stock gave up the bulk of its gains on Friday, plummeting by 11.65%. Despite this sharp fall, MMTC gained 24% over the week, making it one of the top-performing stocks in the Nifty500 index.

Quess Corp

Quess Corp offers end-to-end business solutions, including general staffing, professional staffing, technology staffing, IT products and solutions, skill development, payroll, compliance management, integrated facility management, and industrial asset management services to corporate clients across various sectors. The stock surged about 19% during the week. The company is expected to announce its earnings on Monday, July 29, 2024.

Nuvama Wealth Management

Nuvama Wealth Management, formerly Edelweiss Wealth Management, was among the top three performing stocks in the Nifty500 index, with the stock gaining about 18.8% over the week.

Top Three Losers of the Week from Nifty500 Index

IRCON International

IRCON International, a PSU railway construction company, was the top loser for the week from the Nifty500 index, shedding 13.1%. The stock ended in negative terrain for four out of five trading sessions.

Phoenix Mills

Phoenix Mills is engaged in the operation and management of malls, construction of commercial and residential property, and the hotel business in India. Shares of Phoenix Mills plunged 11% during the week, emerging as one of the top losers.

Indian Railway Finance Corporation (IRFC)

IRFC shares lost 10.9% over the week, making it the third top loser among the Nifty500 index. The stock ended in negative terrain for all five trading sessions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.