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Market rally continues on positive global cues, FIIs buying and strong earnings; rupee recovers

After hitting record low in the previous week, the Indian rupee recovered and settled 59 paise higher at 79.26 per dollar

July 30, 2022 / 09:05 AM IST
Indian equity market rose more than 2 percent during the week ended 29 July, tracking positive global cues as the US Fed raised interest rates in line with expectations. Recovery in Indian rupee, better earnings from India Inc and return of FIIs in the domestic market also supported the investor sentiment.
Indian equity market rose more than 2 percent during the week ended 29 July, tracking positive global cues as the US Fed raised interest rates in line with expectations. Recovery in Indian rupee, better earnings from India Inc and return of FIIs in the domestic market also supported the investor sentiment.
For the week, BSE Sensex jumped 1,498.02 points (2.67 percent) to end at 57,570.25, while the Nifty50 gained 438.85 points (2.62 percent) to close at 17158.3 levels. However, in the month of July, both the main indices rose 8.5 percent.
In the week gone by, BSE Sensex jumped 1,498.02 points (2.67 percent) to end at 57,570.25, while the Nifty50 gained 438.85 points (2.62 percent) to close at 17158.3 levels. However, in the month of July, both the main indices advanced 8.5 percent.
The BSE Large-cap Index surged 2.5 percent led by Bajaj Finserv, Bajaj Finance, Tata Steel, SBI Life Insurance Company, IndusInd Bank. However, losers were Zomato, PB Fintech, One 97 Communications Paytm and Dr Reddy's Laboratories.
The BSE Large-cap Index climbed 2.5 percent led by gains in Bajaj Finserv, Bajaj Finance, Tata Steel, SBI Life Insurance Company, IndusInd Bank. On the other hand, Zomato, PB Fintech, One 97 Communications Paytm and Dr Reddy's Laboratories were among the laggards.
BSE Mid-cap Index gained 1.6 percent supported by the Hindustan Aeronautics, Jindal Steel & Power, Bajaj Holdings & Investment, Page Industries, Nuvoco Vistas Corporation, Adani Power and Sun TV Network. However losers included, Mahindra & Mahindra Financial Services, Shriram Transport Finance Corporation, GlaxoSmithKline Pharmaceuticals, Biocon and Indraprastha Gas.
BSE Mid-cap Index added 1.6 percent supported by gains in Hindustan Aeronautics, Jindal Steel & Power, Bajaj Holdings & Investment, Page Industries, Nuvoco Vistas Corporation, Adani Power and Sun TV Network. However losers included, Mahindra & Mahindra Financial Services, Shriram Transport Finance Corporation, GlaxoSmithKline Pharmaceuticals, Biocon and Indraprastha Gas.
The BSE Small-cap index added 1 percent with Cerebra Integrated Technologies, Yaari Digital Integrated Services, D-Link India, Astra Microwave Products, Diamines and Chemicals, Sree Rayalaseema Hi Strength, Navin Fluorine International and Suryoday Small Finance Bank rising 15-27%. On the other hand, Tanla Platforms, Sharda Cropchem, Steel Exchange India, Bajaj Hindusthan Sugar and Hindustan Foods fell 15-26%.
The BSE Small-cap index rose 1 percent with Cerebra Integrated Technologies, Yaari Digital Integrated Services, D-Link India, Astra Microwave Products, Diamines and Chemicals, Sree Rayalaseema Hi Strength, Navin Fluorine International and Suryoday Small Finance Bank rising 15-27%. On the other hand, Tanla Platforms, Sharda Cropchem, Steel Exchange India, Bajaj Hindusthan Sugar and Hindustan Foods fell 15-26%.
Among BSE Sensex, Bajaj Finance added most in terms of marketcap followed by Tata Consultancy Services, Bajaj Finserv and Asian Paints. On the other hand, Dr Reddy's Laboratories, Kotak Mahindra Bank and Mahindra and Mahindra lost most of their marketcap
Among BSE Sensex constituents, Bajaj Finance gained most in terms of marketcap followed by Tata Consultancy Services, Bajaj Finserv and Asian Paints. On the other hand, Dr Reddy's Laboratories, Kotak Mahindra Bank and Mahindra and Mahindra lost most of their marketcap.
On the sectoral front, Nifty Metal index added 7.7 percent, Nifty Media index rose 5 percent and Nifty Information Technology index gained 3.5 percent.
On the sectoral front, Nifty Metal index added 7.7 percent, Nifty Media index rose 5 percent and Nifty Information Technology index gained 3.5 percent.
In the last week, least selling saw from the foreign institutional investors (FIIs) as they offloaded only Rs -145.87 crore of equities, while domestic institutional investors (DIIs) bought equities worth of Rs 2238.51 crore. In the month of July FIIs sold equities worth Rs 6,567.71 crore, while DIIs bought equities worth of Rs 10,546.02.
During the week, the selling by foreign institutional investors (FIIs) declined to Rs 145.87 crore, while domestic institutional investors (DIIs) bought equities worth Rs 2238.51 crore. In July, FIIs sold equities worth Rs 6,567.71 crore, while DIIs bought equities worth of Rs 10,546.02.
After hitting record low in the previous week, the Indian rupee saw recovery as it ended higher by 59 paise at 79.26 per dollar on July 29 against its July 22 closing of 79.85.
After hitting record low in the previous week, the Indian rupee recovered and settled 59 paise higher at 79.26 per dollar on July 29 against its July 22 closing of 79.85.
Rakesh Patil
first published: Jul 30, 2022 09:05 am
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