Indian Equity Market Rallies, IRFC and RVNL Lead Gainers in Nifty 200

Indian equity benchmarks rebounded strongly after a three-day losing streak, primarily driven by the rise in financials, automobile, metal, state-owned lenders, and energy stocks. The week proved fruitful for IRFC, Rail Vikas Nigam, ONGC, and Polycab India as they emerged as top gainers in the Nifty 200 index.

Indian Railway Finance Corporation (IRFC) performed exceptionally well, becoming the highest gainer of the week in the Nifty 200 pack. The stock witnessed a significant 49.98% surge to reach Rs 160.25 on NSE. Meanwhile, Rail Vikas Nigam Ltd (RVNL) also experienced a notable surge of 45.77% this week, with its stock trading at Rs 291.25 on NSE. ONGC stock witnessed a healthy 14.26% increase to reach Rs 242.05 on NSE. Ensuing this positive trend, Polycab India’s stock witnessed a surge of 14.03% and reached Rs 4,422.7 on NSE.

Other prominent gainers were One97 Communications (Paytm’s parent), with its stock climbing 12.96% to reach Rs 773.6 on NSE. Several other stocks, including BHEL, Bank of India, Indian Oil Corporation, Tech Mahindra, and Infosys, also showed promising gains during the week.

Conversely, FSN E-Commerce Ventures (parent company of Nykaa) observed a considerable downward movement as its stock crashed 10.98% to reach Rs 172.35 on NSE. HDFC Bank shares also faced a tough week, with the stock slumping 10.39% to Rs 1,470.65 on NSE. Adani Energy Solutions, ICICI Prudential, Adani Green, Prestige Estates, and AU Small Finance Bank also experienced significant corrections during this week.