Nifty 50 and Sensex ended the week and month on June 28th with significant gains despite closing slightly negative on Friday. Nifty 50 rose 2.17% (509.50 pts) for the week hitting an all-time high of 24,174 before settling at 24,010.60. Sensex gained 2.36% (1,822 pts) weekly peaking at 79,671.58 before closing at 79,032.73. Both indices set records for four consecutive days last week before Friday’s negative close. Monthly performance was even stronger than last month’s with Nifty 50 up 6.57% (1,479 Pts) and Sensex up 6.68% (5,071 Pts) in June.

\Nifty 50 Index Monthly Chart: TradingView

UltraTech Cement Ltd closed at 11,667.9 on Friday down 48.80 points (-0.4%). However it showed strong weekly and monthly gains of 9.4% and 16.4% respectively. The stock’s 3-month performance was impressive at 19.7%.

Source: Trendlyne

Grasim Industries Ltd ended at 2,670.5 up 32.85 points (1.3%) on Friday. It recorded an 8.3% weekly gain and 11.2% monthly increase. Over three months the stock rose by 16.8%.

Reliance Industries closed at 3,130.8 gaining 69.70 points (2.3%) on Friday. Its weekly growth was 7.7% with an 8.7% monthly increase and a 5.4% rise over three months.

Dr. Reddy’s Laboratories finished at 6,402.4 up 166.45 points (2.7%) on Friday. The stock saw a 6.5% weekly gain, 6.7% monthly increase and 4.0% growth over three months.

NTPC Ltd closed at 378.4 rising 1.20 points (0.3%) on Friday. It posted a 5.2% weekly gain, 3.8% monthly increase and 12.7% growth over three months.

LTIMindtree Ltd ended at 5,385.1 up 8.00 points (0.2%) on Friday. The stock recorded a 5.1% weekly gain, 10.3% monthly increase and 9.0% rise over three months.

Wipro Ltd closed at 514.9 gaining 4.05 points (0.8%) on Friday. It saw a 5.0% weekly gain, 14.2% monthly increase and 7.2% growth over three months.

Sun Pharmaceutical Industries finished at 1,520.9 up 4.60 points (0.3%) on Friday. The stock had a 3.7% weekly gain and 2.8% monthly increase but showed a 6.2% decline over three months.

ICICI Bank Ltd closed at 1,199.6 down 20.30 points (-1.7%) on Friday. Despite this it recorded a 3.5% weekly gain, 8.9% monthly increase and 9.7% rise over three months.

Shriram Finance Ltd ended at 2,911.5 dropping 39.55 points (-1.3%) on Friday. However it showed strong performance with a 3.2% weekly gain, 22.6% monthly increase and 23.4% growth over three months.As we enter July the current monthly candlestick closing as a long-legged bullish formation suggests strong buyer interest. This technical indicator coupled with the overall positive momentum mostly suggests that the surge is likely to continue into the next week/month.