Indian markets gained further ground in the week ended June 30 with benchmarks hitting lifetime highs mainly led by extended buying from FIIs, mixed global markets despite potential rate cuts in the future by US Fed, steadily progress of monsoon and RBI governor confidence about 7.2 percent growth in the current financial year.
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In this week, BSE Sensex gained 1,822.83 points or 2.36 percent to finish at 79,032.73, while Nifty50 index added 509.5 points or 2.16 percent to end at 24,010.60. On June 28, BSE Sensex and Nifty50 touched record high of 79,671.58 and 24,174, respectively. In the month of June 2024, both the benchmarks surged 6.5 percent each.
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The BSE Large-cap Index rose 2 percent led by Indus Towers, UltraTech Cement, Grasim Industries, Reliance Industries, Dr Reddy's Laboratories and Info Edge India. However, losers included IndusInd Bank, Cipla, Eicher Motors, DLF, Havells India, Life Insurance Corporation of India, Vedanta, Tata Steel and Adani Total Gas.
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BSE Mid-cap Index rose 0.4 percent supported by LIC Housing Finance, Whirlpool of India, Star Health & Allied Insurance Company, Persistent Systems, Indraprastha Gas, Godrej Industries, while losers included NMDC, Union Bank of India, Oberoi Realty, New India Assurance Company, Vedant Fashions, APL Apollo Tubes, Gujarat Fluorochemicals.
The BSE Small-cap index gained 0.4 percent with Black Box, Kalyani Investment Company, Garden Reach Shipbuilders & Engineers, India Cements, GTL Infrastructure, Pilani Investment and Industries Corporation, Nalwa Sons Investment, PNB Gilts, Sharda Motor Industries, Rossell India, Bombay Burmah Trading Corporation, Solara Active Pharma, Gulf Oil Lubricants India rising 20-34 percent. However, Wardwizard Innovations and Mobility, Arman Financial Services, Tips Industries, Fino Payments Bank, SG Finserve, S H Kelkar & Company, AGS Transact Technologies, Swan Energy and CreditAccess Grameen fell between 10-19 percent.
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In terms of the market value, Reliance Industries added the most, followed by Tata Consultancy Services, ICICI Bank and UltraTech Cement. On the other hand, Tata Steel, Maruti Suzuki India and IndusInd Bank lost the most of their market-cap. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
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Among sectors, Nifty Energy index rose 3.3 percent, Nifty Oil & Gas index added 3 percent, Nifty Information Technology index was up 2.7 percent. However, Nifty Realty index shed 2.4 percent, Nifty Media index slipped 2.3 percent, Nifty Metal index declined 1.7 percent.
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Foreign institutional investors (FIIs) extended their buying in this week, as they bought equities worth of Rs 4622.19 crore, while Domestic Institutional Investors (DII) bought equities worth Rs 7,186.13 crore.
