For the week, the Sensex gained 1.42 percent to close at 59,832.97, while the Nifty was up 1.37 at 17,599.15. FII buying, higher direct tax collection in FY23, strong manufacturing PMI data and the RBI’s decision to pause the rate hike boosted sentiment
In a holiday-shortened week, the Indian equity market extended the winning run for a second week, supported by the FII buying, higher direct tax collection for FY23, second highest monthly GST collection and strong manufacturing PMI data. The surprise decision by the RBI to pause the rate hike also boosted sentiment in the week ended April 6.
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During the week, the Sensex rose 841.45 points, or 1.42 percent, to close at 59,832.97, while the Nifty gained 239.4 points, or 1.37 percent, to end at 17,599.15.
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On the sectoral front, the BSE realty index added more than 4 percent, the capital goods index was up 3 percent and the telecom index 2.6 percent. The power index ended 0.3 percent lower.
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Foreign institutional investors (FIIs) extended buying for the second week in a row and bought equities worth Rs 1,604.56 crore but domestic institutional investors, which typically cushion the market against foreign investors' selling, preferred to book profits and sold shares worth Rs 2,272.53 crore.
The BSE smallcap index gained nearly 3 percent, with Dhani Services, Nandan Denim, Black Rose Industries, Rama Phosphates and Atul Auto adding between 30-53 percent, while losers included KPIT Technologies, Orient Electric, MPS, Capri Global Capital and Global Health.
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The BSE largecap Index rose 1.3 percent led by Star Health & Allied Insurance Company, DLF, FSN E-Commerce Ventures (Nykaa), Bandhan Bank and Hindustan Zinc.
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The BSE midcap Index gained a percent, led by Cholamandalam Investment, Clean Science & Technology, Godrej Properties, Mahindra & Mahindra Financial Services and GMR Airports Infrastructure.
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Among BSE Sensex companies, HDFC Bank added the most to its marketcap followed by Bajaj Finance, Housing Development Finance Corporation and Larsen & Toubro. On the other hand, Infosys, Axis Bank and ICICI Bank lost the most.
