Market extends gains in second week; rupee depreciate to new low
The Indian rupee tested fresh record low of 87.59 during the week. The domestic unit ended 81 paise lower at 87.42 per dollar on February 7 against the January 31 closing of 86.61.
The Indian equity market extended the gains in the second consecutive week ended February 7 amid volatility led by uncertain tariff policies by the US President Trump, mixed corporate earnings and as expected 25 bps rate cut by the RBI.
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This week, BSE Sensex added 354.23 points or 0.45 percent to finish at 77,860.19, while the Nifty50 index rose 77.8 points or 0.33 percent to close at 23,559.95.
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The BSE Large-cap Index rose 0.3 percent with Divis Laboratories, Cholamandalam Investment, Jindal Steel & Power, IndusInd Bank, Bajaj Finance, Adani Ports, Shriram Finance, JSW Steel rising between 5-9 percent, while Trent, Godrej Consumer Products, ITC, Marico, Avenue Supermarts, Britannia Industries, Hindustan Unilever, Indian Railway Finance Corporation fell between 5-11 percent.
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BSE Mid-cap Index added 0.4 percent with Castrol India, Abbott India, GlaxoSmithKline Pharmaceuticals, One 97 Communications. Laurus Labs, Bharti Hexacom, Supreme Industries, Glenmark Pharma, Lupin rising between 7-18 percent. On the other hand, Thermax, Solar Industries India, Colgate Palmolive (India), Rail Vikas Nigam, Emami, Tube Investments of India, United Breweries, Page Industries, Suzlon Energy declined between 7-12 percent.
The BSE Small-cap index ended flat. Aarti Pharmalabs, Aegis Logistics, Prudent Corporate Advisory Services, Eris Lifesciences, Vimta Labs, Reliance Infrastructure, Onward Technologies, NGL Fine Chem, Gulf Oil Lubricants India gained between 15-26 percent, while Vakrangee, Vishnu Prakash R Punglia, Exicom Tele-Systems, Sterling Tools, Thomas Cook (India), BEML, Divgi Torqtransfer Systems, DB Corp, Kaynes Technology India, Oriental Rail Infrastructure fell between 12-22 percent.
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On the sectoral front, BSE FMCG index shed more than 5 percent, BSE Realty Index fell 3.5 percent, BSE Capital Goods index declined 2.4 percent, BSE Power index fell nearly 2 percent. However, BSE Healthcare added 3 percent, BSE Metal index gained nearly 3 percent, BSE Information Technology rose nearly 2 percent.
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HDFC Bank added the most of its market value, followed by Bharti Airtel, Bajaj Finance, Infosys. On the other hand, ITC, Hindustan Unilever, State Bank of India lost the most of their market-cap.
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During the week, Foreign Institutional Investors (FIIs)sold equities worth Rs 8852.31 crore, while Domestic Institutional Investors (DII) bought equities worth Rs 6449.67 crore.
The Indian rupee tested fresh record low of 87.59 during the week. The domestic unit ended 81 paise lower at 87.42 per dollar on February 7 against the January 31 closing of 86.61.
