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Market rallies for 3rd straight week led by PSU banks; mid & small-caps outperform

FIIs bought equities worth Rs 5,462.20 crore, while DIIs sold equities worth of Rs 801.95 crore.

Rakesh Patil | June 05, 2021 / 08:34 IST
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Market added more than 1 percent and continued the upward momentum in the third straight week ended June 4. Nifty touched fresh record high in the last week amid positive global as well as domestic cues including encouraging US non-farm payroll data, in line RBI policy outcome, better auto sales, continue declining fresh Covid cases in India with vaccination pace picking up boosted the sentiments.
The Indian market continued its upward momentum for the third consecutive week, adding more than 1 percent this week. Nifty touched a fresh record high amid positive global and domestic cues including encouraging US non-farm payroll data, in line RBI policy outcome, robust auto sales. Daily fall in coronavirus cases also kept the mood in favour of the bulls.
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In the last week, BSE Sensex rose 677.17 points (1.31 percent) to end at 52,100.05, while the Nifty50 added 234.65 points (1.52 percent) to close at 15,670.3 levels. Nifty touched the fresh record high of 15,733.60, while Sensex also climed close to its record level of 52516.76 during the week.
This week, BSE Sensex rose 677.17 points (1.31 percent) to end at 52,100.05, while the Nifty50 added 234.65 points (1.52 percent) to close at 15,670.3 levels. Nifty touched a fresh record high of 15,733.60, while Sensex also climbed close to its record level of 52516.76 during the week.
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The BSE Small-cap index jumped 12 percent. PNB Housing Finance, PNB Gilts, Religare Enterprises, Suzlon Energy, Spandana Sphoorty Financial, Magma Fincorp, Gujarat Fluorochemicals, Reliance Communications and Kiri Industries rose 26-91 percent, while losers included Genus Power Infrastructures, Unichem Laboratories, Advanced Enzyme Technologies and Mahanagar Telephone Nigam.
BSE Smallcap index jumped 12 percent. PNB Housing Finance, PNB Gilts, Religare Enterprises, Suzlon Energy, Spandana Sphoorty Financial, Magma Fincorp, Gujarat Fluorochemicals, Reliance Communications and Kiri Industries rose 26-91 percent. Losers included Genus Power Infrastructures, Unichem Laboratories, Advanced Enzyme Technologies and Mahanagar Telephone Nigam.
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BSE Mid-cap Index rose 10 percent with Adani Enterprises, Future Retail, Muthoot Finance, LIC Housing Finance, JSW Energy, Adani Power adding 15-30 percent.
BSE Midcap Index rose 10 percent with Adani Enterprises, Future Retail, Muthoot Finance, LIC Housing Finance, JSW Energy, Adani Power adding 15-30 percent.
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The BSE Large-cap Index added 6 percent led by the Oil and Natural Gas Corporation, NMDC, Piramal Enterprises, Adani Ports and Motherson Sumi Systems, while losers included Aurobindo Pharma, Mahindra and Mahindra and ICICI Lombard General Insurance Company
The BSE Largecap Index added 6 percent led by the Oil and Natural Gas Corporation, NMDC, Piramal Enterprises, Adani Ports and Motherson Sumi Systems. Meanwhile, losers included Aurobindo Pharma, Mahindra and Mahindra and ICICI Lombard General Insurance Company
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On the BSE Sensex, Reliance Industries added the most in terms of market value, followed by Bajaj Finance, ONGC and HDFC in the past week. On the other hand, Infosys lost the most in term of market value. (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 BSE Sensex, Reliance Industries added the most in terms of market value, followed by Bajaj Finance, ONGC and HDFC in the past week. On the other hand, Infosys lost the most in term of market value. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
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Markets - Image: Reuters
Among sectors, Nifty PSU Bank outperformed other indices gaining over 18 percent, followed by Nifty Media (up 16.7 percent) and Nifty Metal (up 15 percent).
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Foreign institutional investors (FIIs) bought equities worth Rs 5,462.20 crore, while domestic institutional investors (DIIs) sold equities worth of Rs 801.95 crore.
Foreign institutional investors (FIIs) bought equities worth Rs 5,462.20 crore, while domestic institutional investors (DIIs) sold equities worth Rs 801.95 crore.
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In the last week, the Indian rupee slipped by 57 paise at 73 on June 4 against its May 28 closing of 72.43.
This week, the Indian rupee slipped by 57 paise at 73 against its May 28 closing of 72.43.

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