Market posts biggest weekly gains in 6 months; rupee hits record low
During the week, the Indian rupee touched fresh record low of 84.73 and ended 20 paise lower at 84.69 per dollar on December 6 against the November 29 closing of 84.49.
The bulls dominated Dalal Street on the third consecutive week ended December 6, as the benchmark indices post biggest weekly gains in last six months amid positive global markets, falling crude oil prices, and inline RBI policy announcement.
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This week, BSE Sensex surged 1,906.33 points or 2.38 percent to end at 81,709.12, while the Nifty50 index added 546.7 points or 2.26 percent to close at 24,677.8.
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BSE Mid-cap Index added 3.5 percent supported by Indraprastha Gas, PB Fintech, UCO Bank, Max Healthcare Institute, Zee Entertainment Enterprises, Castrol India, Tata Elxsi, Dixon Technologies, Gujarat Fluorochemicals. However, losers included Vedant Fashions, Emami, Ajanta Pharma, GlaxoSmithKline Pharmaceuticals, FSN E-Commerce Ventures (Nykaa) and Oil India.
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The BSE Small-cap index added 3.3 percent with Lincoln Pharmaceuticals, EKI Energy Services, Shivalik Rasayan, Goldiam International, OM Infra, AGI Greenpac, HEG, Borosil Renewables, Axiscades Technologies, Texmaco Infrastructure & Holdings, Jindal Worldwide, NELCO, Savita Oil Technologies, Dhani Services, Paisalo Digital adding 20-46 percent. However, losers were Aegis Logistics, Magellanic Cloud,Indegene,Unichem Laboratories, Avalon Technologies, Solara Active Pharma, Jay Bharat Maruti.
The BSE Large-cap Index jumped 2.4 percent led by Vedanta, Macrotech Developers, Zomato, Indian Overseas Bank, Bank Of Baroda, Canara Bank, Titan Company, Ambuja Cements, Tata Power Company. Losers included Adani Total Gas, Adani Green Energy, Adani Energy Solutions, Cipla, ICICI Prudential Life Insurance Company, Adani Power and HDFC Life Insurance Company.
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On the sectoral front, Nifty Realty and PSU Bank indices added 5 percent each, Nifty Metal and Media added 4 percent each and Nifty IT index was up nearly 4 percent.
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Tata Consultancy Services added the most of its market value, followed by HDFC Bank, Infosys, Reliance Industries. On the other hand, Bharti Airtel, ITC, Asian Paints 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.)
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Foreign Institutional Investors (FIIs) turned net buyers in this week as they bought equities worth Rs 11,933.59 crore, while Domestic Institutional Investors (DII) bought equities worth Rs 1,792.47 crore.
During the week, the Indian rupee touched fresh record low of 84.73 and ended 20 paise lower at 84.69 per dollar on December 6 against the November 29 closing of 84.49.
