Market started the year 2022 on a stronger note and also continued the winning momentum for the third straight week as FIIs turned net buyers despite rising COVID cases and a hawkish stance by the Fed. The market also got support from the buying seen in the banking and oil and gas stocks.
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Last week, the BSE Sensex added 1,490.83 points (2.55 percent) to end at 59,744.65, while the Nifty50 gained 458.65 points (2.6 percent) to close at 17,812.70 levels.
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The BSE Large-cap Index jumped 2.5 percent with Grasim Industries, Pidilite Industries and Oil and Natural Gas Corporation rising over 10 percent each, while Cadila Healthcare, Tech Mahindra, Dr Reddy’s Laboratories and Infosys fell 4-6 percent.
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The BSE Smallcap index added 2 percent with BGR Energy Systems, Jaiprakash Power Ventures, Tata Teleservices (Maharashtra), 63 Moons Technologies, DB Realty, Urja Global, Jaypee Infratech, Greaves Cotton, Steel Exchange India and JBM Auto up over 25 percent. On the other hand, Hinduja Global Solutions, Spandana Sphoorty Financial, Surya Roshni, Dhanuka Agritech and Brigade Enterprises falling over 10 percent.
BSE Mid-cap Index gained 2 percent supported by the AU Small Finance Bank, Rajesh Exports, Cholamandalam Investment, Federal Bank and Page Industries. However, losers were Abbott India, Bajaj Holdings & Investment, MphasiS, Torrent Pharmaceuticals and Glenmark Pharma.
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On the BSE Sensex, Reliance Industries (RIL) added the most in terms of market value, followed Tata Consultancy Services, Bajaj Finance and HDFC Bank in the last week. On the other hand, Infosys, Tech Mahindra and HCL Technologies 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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Among sectors, Bankex and Oil & Gas indices rose 6.3 percent and 5.3 percent respectively, while Healthcare and Information Technology indices lost 1-2 percent.
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Foreign institutional investors (FIIs) bought equities worth of Rs 1,082.83 crore, and domestic institutional investors (DIIs) bought equities worth of Rs 3,293.28 crore.
