Market extends gain in second week; rupee marginally lower
Foreign Institutional Investors (FIIs) extended their selling in week ended November 29 as they sold equities worth Rs 5,026.77 crore, while Domestic Institutional Investors (DII) bought equities worth Rs 6,924.78 crore.
The bulls tightened their hold on Dalal Street with benchmark indices rising 1 percent in the volatile week ended November 29 amid strong global cues, expectations of stable government in Maharashtra, and ease in geopolitical tensions leading fall in crude oil prices.
This week, BSE Sensex added 685.68 points or 0.86 percent to close at 79,802.79, while the Nifty50 index rose 223.85 points or 0.93 percent to finish at 24,131.10. However, for November, Sensex added 0.5 percent, while Nifty slipped 0.30 percent.
The BSE Small-cap index surged 5 percent with Ashapura Minechem, Man Infraconstruction, Jai Corp, Bliss GVS Pharma, Bharat Dynamics, Fedbank Financial Services, Garden Reach Shipbuilders & Engineers, Cochin Shipyard, Capacite Infraprojects rising between 20-39 percent, while JSW Holdings, ZF Commercial Vehicle Control Systems India, Nalwa Sons Investment, Oriental Aromatics, Raghav Productivity Enhancers shed between 10-16 percent.
BSE Mid-cap Index rose 2.3 percent supported by Mazagon Dock Shipbuilders, New India Assurance Company, Laurus Labs, Indian Renewable Energy Development Agency, Zee Entertainment Enterprises, Biocon. However, losers included UPL, Oil India, Suzlon Energy, Ipca Laboratories, Max Financial Services, Delhivery, Godrej Properties, AU Small Finance Bank, Max Healthcare Institute.
The BSE Large-cap Index rose 1.6 percent led by Adani Total Gas, Adani Energy Solutions, Adani Green Energy, Adani Power, Life Insurance Corporation of India, Adani Enterprises, Siemens, Polycab India, while losers included JSW Energy, Bajaj Auto, HDFC Life Insurance Company, SBI Life Insurance Company, Eicher Motors, HCL Technologies, Infosys, Power Grid Corporation of India.
HDFC Bank added most of its market value, followed by Reliance Industries, Bharti Airtel, and State Bank of India. On the other hand, Infosys, HCL Technologies, Power Grid Corporation of India lost 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.)
On the sectoral front, Nifty Media index added 5.5 percent, Nifty PSU Bank index rose 4.7 percent, Nifty Oil & Gas index up 4 percent, Nifty Energy index added 2.6 percent. On the other hand, Nifty Auto and Information Technology indices shed 0.5 percent each.
In this week, the Indian rupee ended marginally lower at 84.49 per dollar on November 29 against the November 22 closing of 84.45.
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Foreign Institutional Investors (FIIs) extended their selling in the week ended November 29 as they sold equities worth Rs 5,026.77 crore, while Domestic Institutional Investors (DII) bought equities worth Rs 6,924.78 crore. In the month of November, the FIIs sold equities worth Rs 45,974.12 crore and DIIs bought equities worth Rs 44,483.86 crore.
