Indian market wiped-out previous week losses and gained more than 3 percent amid extreme volatility led by BJP-led NDA did not receive a clear mandate as expected in exit polls. However, the market rebounded strongly, and went to all-time high after RBI raised the growth forecast for FY25. The investor sentiments also get uplifted after BJP-led NDA is going to form new government under Narendra Modi for the third time in a row.
2/9
In this week, BSE Sensex gained 2,732.05 points or 3.69 percent to close at 76,693.36, while Nifty50 index rose 759.5 points or 3.37 percent to finish at 23,290.20. During the week, BSE Sensex hit fresh all-time high of 76,795.31, while Nifty also inched near to its record high of 23,338.70.
3/9
The BSE Small-cap index advanced 3 percent with Heritage Foods, Moschip Technologies, PTC Industries, Authum Investment & Infrastucture, V-Mart Retail, BL Kashyap & Sons, Bhagiradh Chemicals and Industries, Ganesh Housing Corporation, IFB Industries, Pokarna, Marathon Nextgen Realty, NAVA, Universal Cables rising between 20-64 percent. On the other hand, Jaiprakash Associates, Titagarh Rail Systems, Techno Electric & Engineering Company, TruCap Finance, Cressanda Solution, Data Patterns (India) fell 11-30 percent.
4/9
BSE Mid-cap Index rose 3 percent with Emami, Bayer CropScience, UNO Minda, Persistent Systems, Oracle Financial Services Software, Aditya Birla Fashion & Retail, The Ramco Cements, Colgate Palmolive (India), United Breweries, TVS Motor Company rising 10-15 percent, while losers included Union Bank of India, REC, Bank Of India, Rajesh Exports and Indian Bank.
The BSE Large-cap Index rose 3 percent with Mahindra and Mahindra, United Spirits, Godrej Consumer Products, Dabur India, Tech Mahindra, Wipro, Hindustan Unilever, Avenue Supermarts rising 10-14 percent, while losers included Adani Energy Solutions, Adani Total Gas, Adani Enterprises, Hindustan Aeronautics, Bharat Electronics, Bharat Petroleum Corporation, Adani Ports and Special Economic Zone.
6/9
In terms of the market value, Tata Consultancy Services added the most, followed by Hindustan Unilever, Reliance Industries and Infosys. On the other hand, Larsen & Toubro, Power Grid Corporation of India and State Bank of India 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 sole beneficiary.)
7/9
Among sectors, Nifty Information Technology index rose 8.6 percent, Nifty FMCG index rose 7 percent, Nifty Auto index gained 6.8 percent, and Nifty Media and Realty indices added 5 percent each. However, Nifty PSU Bank index declined 1.4 percent.
8/9
During the week, Foreign institutional investors (FIIs) sold equities worth of Rs 13,718.42 crore, while Domestic Institutional Investors (DII) bought equities worth Rs 5,578.71 crore.
