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Slideshow | Rally continues for fifth week on vaccine hopes; IT index outperform
On the sectoral front, Nifty IT Index outperformed other indices with a gain of 8 percent followed by Nifty Pharma and Nifty IT FMCG.
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Market ended on a positive note for the fifth consecutive week which ended on July 17 amid positive domestic data including a good start of June quarter earnings from the India Inc and moderate CPI data for the month of June. Also, hopes of an early launch of COVID-19 vaccine kept the global market sentiments positive, which helped Indian indices to add 1 percent this week. However, rising COVID-19 cases has remained a concern for investors.
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Last week, BSE Sensex gained 425.77 points (1.1 percent) to close at 37,020.1, while the Nifty50 added 133.65 points (1.2 percent) to end at 10,901.7 levels.
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BSE Midcap Index rose 1.1 percent supported by the Edelweiss Financial Services, Oracle Financial, Muthoot Finance and MphasiS, while IDBI Bank, Varroc Engineering, L&T Finance Holdings, BHEL and Godrej Industries fell 7-12 percent.
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BSE Smallcap index ended marginally lower. Eveready Industries, Hathway Cable, BF Utilities, Vikas Ecotech and Reliance Communications rose over 25 percent, while Arvind Fashions, Opto Circuits, Sintex Plastics Technology, Sintex Industries and Prozone Intu Properties shed over 20 percent.
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BSE Largecap Index added over 1 percent. Gainers included names like BPCL, Wipro, Infosys, Cipla and SBI Cards, while losers were Avenue Supermarts, Vodafone Idea, Zee Entertainment and Adani Ports.
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In the 20-stock Sensex, Infosys added the most in terms of market value, followed by HUL, Reliance Industries, HCL Technologies, Mahindra and Mahindra, while HDFC, TCS, SBI and Power Grid Corporation lost most of their market value. Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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On the sectoral front, Nifty IT Index outperformed other indices with a gain of 8 percent followed by Nifty Pharma and Nifty IT FMCG. On the other hand, Nifty Realty and Nifty PSU Bank Index shed 4.7 percent and 4 percent, respectively.
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In the last week, the foreign institutional investors (FIIs) sold equities worth Rs 1,959.56 crore, and domestic institutional investors (DIIs) sold equities worth of Rs 1584.17 crore. So far in the month of July, FII and DII sold equities worth of RS 3,990.29 and Rs 2,239.37 crore, respectively.
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Last week, the Indian rupee rose against the US dollar. The domestic currency was up 18 paise to close at 75.02 per dollar on July 17, against its July 10 closing of 75.20 per dollar.
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