Market snaps 2-week fall, rupee hits fresh record low
In this week, the Indian rupee hit fresh record low of 84.50 but ended 5 paise lower at 84.45 per dollar on November 22 against the November 14 closing of 84.40.
The bulls came back strongly in the week ended November 22 with Indian benchmarks snapped two-week losing streak to end with nearly 2 percent gain ignoring fears of Gautam Adani's bribery case, fresh geopolitical tension and continues FII selling.
This week, BSE Sensex rose 1,536.8 points or 1.98 percent to end at 1,536.8, while the Nifty50 index added 374.6 points or 1.7 percent to close at 23,907.30.
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The BSE Large-cap Index added 1.7 percent led by Power Grid Corporation of India, Mahindra and Mahindra, Varun Beverages, Interglobe Aviation, UltraTech Cement, DLF, Power Finance Corporation, Polycab India. On the other hand, Adani Green Energy, Adani Energy Solutions, Adani Enterprises, Adani Power, Adani Total Gas, Adani Ports and Special Economic Zone fell 10-29 percent.
The BSE Small-cap index rose 0.4 percent with Banco Products (India), Kiri Industries, Everest Kanto Cylinder, Supriya Lifescience, Jagsonpal Pharmaceuticals, Vijaya Diagnostic Centre, National Aluminium Company, Garware Technical Fibres, Phoenix Mills, Sammaan Capital, Dhani Services, Pearl Global Industries gainibg between 15-34 percent. On the other hand, JSW Holdings, Hinduja Global Solutions, Honda India Power Products, Kokuyo Camlin, Sanghvi Movers, BASF India, Newgen Software Technologies shed over 12 percent.
On the sectoral front, BSE Realty index rose more than 6 percent, BSE Auto, Metal, Capital Goods indices up 2 percent each. However, BSE Oil & Gas index fell nearly 2 percent.
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HDFC Bank added the most of its market value, followed by Tata Consultancy Services, Mahindra and Mahindra, Power Grid Corporation of India. On the other hand, NTPC, Bajaj Finserv, Reliance Industries lost the 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 soles beneficiary.)
Foreign Institutional Investors (FIIs) continued their selling in week ended November 22 as they offloaded equities worth Rs 11,414.18 crore, while Domestic Institutional Investors (DII) bought equities worth Rs 11,036.76 crore. In the month of November till now, the FIIs sold equities worth Rs 40,947.35 crore and DIIs bought equities worth Rs 37,559.08 crore.
In this week, the Indian rupee hit fresh record low of 84.50 but ended 5 paise lower at 84.45 per dollar on November 22 against the November 14 closing of 84.40.
