Market snaps 3 straight weeks of fall, gains 2.5% on FII support
Foreign institutional investors turned net buyers this week, buying Rs 2,243.74-crore worth of equities but couldn’t beat domestic institutional investors, who picked up shares worth Rs 4,955.78 crore
The Indian market snapped a three-week losing streak and gained more than 2 percent in the week ended March 31 amid F&O expiry, positive global cues, FIIs buying and easing worries over banking sector's health.
2/9
During the week, the Sensex added 1,464.42 points, or 2.5 percent, to end at 58,991.52, while the Nifty rose 414.75 points, or 2.44 percent, to close at 17,359.80. The benchmark indices, however, ended the month flat.
3/9
The BSE largecap index added 2 percent led by Info Edge India, Reliance Industries, IndusInd Bank, Bank Of Baroda, Bosch, JSW Steel and Hindalco Industries. However, Adani Green Energy, Adani Total Gas, Adani Transmission and FSN E-Commerce Ventures (Nykaa) lost 10-14 percent.
4/9
The BSE midcap index gained nearly 2 percent, supported by PB Fintech, Glenmark Pharma, Motilal Oswal Financial Services, SJVN, Alkem Laboratories, Dalmia Bharat and Aditya Birla Capital.
5/9
The BSE smallcap index rose 0.7 percent with Primo Chemicals, Navkar Corporation, Veranda Learning Solutions, Ashiana Housing, Ahluwalia Contracts India, IIFL Finance and SH Kelkar & Company adding 15-18 percent. On the other hand, Brightcom Group, SVP Global Textiles, Fermenta Biotech, Xelpmoc Design and Tech, SEPC, Sadbhav Engineering, VLS Finance, Elin Electronics and Black Rose Industries fell between 14 and 22 percent.
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Among BSE Sensex stocks, Reliance Industries added the most in terms of marketcap followed by Tata Consultancy Services, HDFC Bank and Infosys. On the other hand, Bharti Airtel, Asian Paints and Bajaj Finance lost the most of their marketcap. (Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com)
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On the sectoral front, the Nifty PSU bank index rose 4 percent, information technology index 2.7 percent, metal index 2.3 percent and the pharma index gained 2.2 percent.
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Foreign institutional investors (FIIs) turned net buyers this week, as they bought equities worth Rs 2,243.74 crore and domestic institutional investors (DIIs) bought equities worth Rs 4,955.78 crore. In March, FIIs bought equities worth Rs 1,997.70 crore and DIIs Rs 30,548.77 crore.
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In this week, the rupee ended 30 paise higher at 82.18 to a dollar against a closing of 82.48 at the end of the previous week.
