The Indian equity market extended the gains in the second consecutive week ended August 22 on hopes of GST rationalisation by government, good monsoon, lower oil prices, however, ahead of deadline (August 27) of US tariffs, the investors book some profit at higher levels.
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For the week, the BSE Sensex index rose 709.19 points or 0.87 percent to end at 81,306.85 and Nifty50 gained 238.8 points or 0.96 percent to finish at 24,870.10.
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The BSE Large-cap Index jumped 1 percent supported by Maruti Suzuki India, Waaree Energies, TVS Motor Company, IDBI Bank, Avenue Supermarts, Swiggy.
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BSE Mid-cap Index added 2 percent led by Ola Electric Mobility, Astral Limited, Phoenix Mills, UNO Minda, L&T Finance, while losers included Glenmark Pharma, Tata Communications, Bharat Forge, Kalyan Jewellers India, Abbott India, Torrent Power, Aurobindo Pharma.
The BSE Small-cap index rose more than 2 percent led by Foseco India, KIOCL, KR Rail Enginerring, Apollo Micro Systems, HLE Glascoat, Jai Corp, Pennar Industries, Rishabh Instruments, while losers were Nazara Technologies, Agarwal Industrial Corporation, Thyrocare Technologies, Ethos, Master Trust, Share India Securities, GVK Power & Infrastructure, Suratwwala Business Group, Shilpa Medicare, Uflex, Valiant Organics.
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On the sectoral front, BSE Auto index rose 5 percent each, BSE Consumer Discretionary, Telecom, realty indices rose more than 3 percent each, while BSE PSU and Power indices down 0.5 percent each.
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During the week, Reliance Industries added the most in terms of market value, followed by Maruti Suzuki India, Bharti Airtel, Hindustan Unilever. On the other hand, HDFC Bank, ITC, Larsen & Toubro 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 soles beneficiary.)
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The pace of Foreign Institutional Investors (FIIs) selling declined but remained net sellers in 8th week, as they offload equities worth Rs 1,559.51 crore. On the other hand, Domestic Institutional Investors (DII) extended their buying in 18th consecutive week, as they purchased equities worth Rs 10,388.23 crore.
During the week the Indian rupee traded in the range of 86.92-87.54. It ended with marginal gains and extended the gains in the second consecutive week, closing at 87.52 per dollar on August 22 against the August 14 closing of 87.56.
