Market extends gain in second week; rupee at record low

The Indian equity indices extended the gains in the second consecutive week ended November 21 amid volatility led by delay in US India trade deal, uncertainty about Fed rate cut after better US non-farm payroll data, falling rupee and soft manufacturing PMI data.

For the week, BSE Sensex index added 669.14 points or 0.79 percent to close at 85,231.92 and Nifty50 rose 158.1 points or 0.61 percent to finish at 26,068.15.

The BSE Large-cap Index ended with marginal gains. Hero MotoCorp, Max Healthcare Institute, Eicher Motors, Bharti Airtel, Siemens were among major gainers, while losers were Vodafone Idea, JSW Energy, Tata Motors Passenger Vehicles, Bajaj Holdings & Investment, Hindustan Zinc, Vedanta, DLF.

BSE Mid-cap Index shed 1 percent dragged by Kaynes Technology India, Supreme Industries, Bharat Dynamics, Star Health & Allied Insurance Company, Tube Investments of India, Kansai Nerolac Paints, however, gainers included Mahindra and Mahindra Financial Services, GMR Airports, 360 One Wam, PB Fintech, LT Technology Services, Hexaware Technologies.

The BSE Small-cap index declined 2 percent with Fischer Medical Ventures, Spectrum Electrical Industries, RIR Power Electronics, Jai Balaji Industries, Websol Energy System, Deccan Cements falling between 15-30 percent, while gainers were Astec Lifesciences, Sri Adhikari Brothers Television, VLS Finance, 5paisa Capital, VL E-Governance and IT Solutions and Narayana Hrudayalaya.

On the sectoral front, Nifty IT index surged 1.6%, Nifty Auto index added 1%, Nifty Bank index rose 0.6%, on the other hand, Nifty Realty index fell 3.7%, Nifty Metal index fell 3.3%, Nifty Media shed 2.4%.

During the week, Bharti Airtel added the most in terms of market value, followed by Reliance Industries, Infosys, Tata Consultancy Services. On the other hand, Tata Motors Passenger Vehicles, Bajaj Finance, Bharat Electronics, 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.)

The Foreign Institutional Investors' (FIIs) reduced its selling in this week as they sold equities worth Rs 188 crore, while Domestic Institutional Investors (DII) continued their buying as they bought equities worth Rs 12,969.03 crore.

The Indian rupee extended the losing streak in the second week, hitting fresh record low of 89.48. The domestic unit ended 74 paise lower at 89.40 per dollar on November 21 against the November 14 closing of 88.74. During the week, the Indian rupee traded in the range of 89.48-88.42.