Market climbs to fresh high amid volatility; rupee at record low

The Indian equity indices ended on a flat note in the volatile week ended December 5 amid sharp surged seen in the Friday's session on the back of unexpected interest rate cut by the Reserve Bank of India (RBI) with FY26 GDP forecast upgradation to 7.3% and downward revision of inflation.

BSE Sensex index ended flat at 85,712.37, hitting all-time high of 86,159.02, while Nifty50 index also ended with little change at 26,186.45, after touching fresh record high of 26325.8, during the week.

The BSE Large-cap Index ended on a flat note. Waaree Energies, Bajaj Housing Finance, Interglobe Aviation, Max Healthcare Institute, JSW Energy, Hindustan Unilever fell between 5-9 percent, while Vodafone Idea, Info Edge India, Wipro, Swiggy, TVS Motor Company, Indus Towers, Infosys, Tech Mahindra, HCL Technologies, Asian Paints, LTIMindtree, Tata Consultancy Services added between 3-8 percent.

BSE Mid-cap Index shed 1.2 percent dragged by Kaynes Technology India, Ola Electric Mobility, Hitachi Energy India, Whirlpool of India, Motilal Oswal Financial Services, Premier Energies, Nippon Life India Asset Management, Indian Bank. However, gainers were National Aluminium Company, MphasiS, PB Fintech, KPIT Technologies, Coforge, NMDC, Balkrishna Industries, Ajanta Pharma.

The BSE Small-cap index shed nearly 2 percent dragged by Kothari Industrial Corporation, Spectrum Electrical Industries, Thyrocare Technologies, Tuticorin Alkali Chemicals and Fertilizers, Transworld Shipping Lines, TVS Electronics, Transformers and Rectifiers India, LE Travenues Technology (IXIGO), SEPC, Kingfa Science & Technology, PRAVEG, Shakti Pumps (India), however, Nectar Lifesciences, SMC Global Securities, Integrated Industries, InfoBeans Technologies, Birlasoft, Hindustan Copper, Sun Pharma Advanced Research Company, ZF Commercial Vehicle Control Systems India added between 12-23%.

On the sectoral front, Nifty Consumer Durables, Nifty Defence, Nifty Media, Nifty Capital Markets shed 2 percent each, while Nifty PSU Bank, Nifty Healthcare, Nifty Realty, Nifty Oil & Gas down between 1-1.5 percent. On the other hand, Nifty IT index added 3.5 percent and Nifty Metal and Auto indices rose 0.5 percent each.

During the week, Reliance Industries lost the most in terms of market value, followed by Hindustan Unilever, Titan Company, State Bank of India. On the other hand, Tata Consultancy Services, Infosys, HCL Technologies, added 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 soles beneficiary.)

The Foreign Institutional Investors' (FIIs) extended their selling at they sold equities worth Rs 10403.62 crore, while Domestic Institutional Investors (DII) continued their buying as they bought equities worth Rs 19785.5 crore.

Indian rupee continued the depreciation against the US dollar as it crossed 90 mark for the first time, touching new record low of 90.42 on December 4. However, the domestic unit made some recovery but ended lower by 55 paise at 89.99 per dollar against previous week close of 89.45. During the week, the Indian rupee traded in the range of 89.42-90.42.