Market slips 0.5% in volatile week; rupee at fresh low

The Indian benchmark indices ended lower in the volatile week ended December 12 on the back of persistent FII outflow, further rupee depreciation against the dollar, and ongoing uncertainty surrounding the US–India trade deal; however, the DIIs' support helped to trim some losses.

BSE Sensex index shed 444.71 points or 0.51 percent at 85,267.66, while Nifty50 index fell 139.5 points or 0.53 percent at 26,046.95.

The BSE Large-cap Index shed 0.4 percent, dragged by Interglobe Aviation, Asian Paints, Siemens Energy India, Hero MotoCorp, Mazagon Dock Shipbuilders; however, Hindustan Zinc, Vodafone Idea, Swiggy, SRF, and JSW Energy added between 4-12 percent.

BSE Mid-cap Index shed 0.3 percent, dragged by Bharat Dynamics, Coforge, ITC Hotels, Mahindra and Mahindra Financial Services, Housing & Urban Development Corporation, while gainers were GE Vernova TD India, New India Assurance Company, Nippon Life India Asset Management, Bandhan Bank, Lloyds Metals and Energy.

The BSE Small-cap index fell 0.4 percent with Refex Industries, Kothari Industrial Corporation, Hubtown, Bliss GVS Pharma, Jagatjit Industries, Websol Energy System, Fino Payments Bank, Deccan Gold Mines, Reliance Infrastructure fell between 12-23 percent, while Fermenta Biotech, Stallion India Fluorochemicals, Rolex Rings, Sri Adhikari Brothers Television, Dolat Algotech, Transformers and Rectifiers India, Suratwwala Business Group, PRAVEG, Dredging Corporation India, Blue Cloud Softech Solutions, EFC (I) added between 16-26 percent.

On the sectoral front, the Nifty Defence index shed 3 percent; however, the Nifty Media, Nifty PSU Bank, Nifty IT, and Nifty FMCG were down between 1-1.7 percent. On the other hand, the Nifty Metal index rose 2 percent, and the Nifty Consumer Durables added 0.4 percent.

The Foreign Institutional Investors (FIIs) offloaded equities worth Rs 9,201.89 crore, while Domestic Institutional Investors (DIIs) continued their buying as they bought equities worth Rs 20,184.70 crore.

The Indian rupee has extended its fall against the US dollar as it touched a fresh record low of 90.56 during Friday's session. However, it closed the week 43 paise lower at 90.42 versus the December 5 closing of 89.99. During the week, the Indian rupee traded in the range of 89.76-90.56.

During the week, Reliance Industries added the most in terms of market value, followed by Maruti Suzuki India, Tata Steel, and Titan Company. On the other hand, Asian Paints, Bajaj Finance, and ICICI Bank lost 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 sole beneficiary.)