Market posts biggest weekly gain in nearly 3 months; rupee hits new low
Foreign Institutional Investors (FIIs) extended their selling in the 11th straight week, as they offload equities worth Rs 3,577.37 crore. On the other hand, Domestic Institutional Investors (DII) continued their buying in 22nd week, as they purchased equities worth Rs 13,703.23crore.
Market witnessed rangebound activity with positive bias helping indices to extend gains in the second consecutive week, posting biggest weekly gain in nearly 3 months on hopes of easing India-US trade tension, expectation of rate cut by the Federal Reserve and reports that the EU may reject US tariff proposals on India’s Russian oil imports.
2/9
For the week, Nifty50 added 373 points or 1.50 percent to end at 25,114, while the BSE Sensex index added 1193.94 points or 1.47 percent to end at 81,904.70.
3/9
BSE Mid-cap Index jumped 1.6 percent led by Gujarat Fluorochemicals, Mazagon Dock Shipbuilders, Oracle Financial Services Software, Tube Investments of India, Bharat Heavy Electricals, Bharat Forge, NHPC.
4/9
The BSE Large-cap Index added 1.6 percent supported by Waaree Energies, Samvardhana Motherson International, Adani Energy Solutions, SBI Cards & Payment Services, Hindustan Aeronautics, Bharat Electronics, Indus Towers.
The BSE Small-cap index rose 1.5 percent with Sigachi Industries, Faze Three, Precision Camshafts, SMS Pharmaceuticals, Themis Medicare, Indo Count Industries, MTAR Technologies, IOL Chemicals and Pharmaceuticals, Prime Focus, New Delhi Television, India Tourism Development Corporation, Swelect Energy Systems, Greenpanel Industries, Dilip Buildcon, Garware Hi-Tech Films, JBM Auto, Ramco Industries, Salasar Techno Engineering rising 15-36 percent. On the other hand, KR Rail Enginerring, Paradeep Phosphates, Good Luck India, Reliance Infrastructure, Vimta Labs, Rishabh Instruments, CarTrade Tech fell between 10-16 percent.
6/9
Among sectors, except Nifty Consumer Durables (down 1 percent), all other indices ended in the green with Nifty Defence index rose 7 percent, Nifty IT index jumped over 4 percent, Nifty PSU Bank index added 3 percent, while Nifty Auto, Metal, Pharma jumped 2 percent each.
7/9
During the week, Bajaj Finance added the most in terms of market value, followed by Infosys, Tata Consultancy Services, Reliance Industries. On the other hand, Trent, Hindustan Unilever, Titan Company, 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.)
8/9
Foreign Institutional Investors (FIIs) extended their selling in the 11th straight week, as they offload equities worth Rs 3,577.37 crore. On the other hand, Domestic Institutional Investors (DII) continued their buying in 22nd week, as they purchased equities worth Rs 13,703.23crore.
Indian rupee touched fresh record low of 88.45 against the US dollar. The Indian unit closed flat at 88.27 per dollar on September 12 against the September 5 closing of 88.26. During the week the Indian rupee traded in the range of 87.95-88.45.
