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.
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 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 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 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 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.
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 recovered and settled 59 paise higher at 79.26 per dollar on July 29 against its July 22 closing of 79.85.
