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Market snaps five week losing streak as Nifty back above 16,200 led by metals

BSE Metal index surged 7.3 percent, BSE Capital Goods index added 5.3 percent and BSE FMCG, Auto and Realty indices gained 4-5 percent. On the other hand, Information Technology index fell 2 percent.

May 21, 2022 / 09:26 AM IST
Bulls took charge of the Dalal Street as Indian indices snapped five-week losing streak, ended 3 percent higher in the highly volatile week ended May 20. After ended first two sessions of the week on the positive note, the market lost all its gain in next two-sessions, while it took U-turn on the final day amid positive FM commentary and supportive Asian markets post Bank of China reduced five-year loan prime rate by 15 basis points to 4.45 percent to support growth.
Bulls took charge of the Dalal Street as Indian indices snapped a five-week losing streak, ending three percent higher in the highly volatile week ended May 20. After first two sessions of the week ended on a positive note, the market lost all its gains in the next two before a U-turn on the final day amid positive FM commentary and supportive Asian markets after Bank of China reduced five-year loan prime rate by 15 basis points to 4.45 percent to support growth.
For the week, BSE Sensex added 1,532.77 points (2.90 percent) to close at 54,326.39, while the Nifty50 rose 484.05 points (3.06 percent) to end at 16,266.2 levels.
For the week, BSE Sensex added 1,532.77 points (2.90 percent) to close at 54,326.39 while the Nifty50 rose 484.05 points (3.06 percent) to end at 16,266.2.
The BSE Small-cap index rose 4 percent with Nava Bharat Ventures, Uttam Sugar Mills, Welspun Corp, Orient Bell, Mangalore Refinery and Petrochemicals, Datamatics Global Services, Elgi Equipments, JK Lakshmi Cement, Chennai Petroleum Corporation, Sandur Manganese and Iron Ores, Vikas Lifecare added 25-50 percent. However, Birla Tyres, Future Retail, Amber Enterprises India, Muthoot Capital Services, Dr Lal PathLabs, Asian Granito India, Metropolis Healthcare, Brightcom Group and AGI Greenpac lost between 10-22 percent.
BSE Small-cap index rose four percent with Nava Bharat Ventures, Uttam Sugar Mills, Welspun Corp, Orient Bell, Mangalore Refinery and Petrochemicals, Datamatics Global Services, Elgi Equipments, JK Lakshmi Cement, Chennai Petroleum Corporation, Sandur Manganese and Iron Ores, Vikas Lifecare adding 25-50 percent. However, Birla Tyres, Future Retail, Amber Enterprises India, Muthoot Capital Services, Dr Lal PathLabs, Asian Granito India, Metropolis Healthcare, Brightcom Group, and AGI Greenpac lost 10-22 percent.
BSE Mid-cap Index gained 3 percent led by Adani Power, JSW Energy, Hindustan Aeronautics, Bharat Heavy Electricals, CRISIL, Balkrishna Industries and LIC Housing Finance. On the other hand, losers included Honeywell Automation, Container Corporation of India, Supreme Industries and Crompton Greaves Consumer Electrical.
BSE Mid-cap Index gained three percent led by Adani Power, JSW Energy, Hindustan Aeronautics, Bharat Heavy Electricals, CRISIL, Balkrishna Industries and LIC Housing Finance. On the other hand, losers included Honeywell Automation, Container Corporation of India, Supreme Industries, and Crompton Greaves Consumer Electrical.
The BSE Large-cap Index added 3 percent led by FSN E-Commerce Ventures (Nykaa), Avenue Supermarts, Eicher Motors, Petronet LNG, Hindalco Industries, Indus Towers and Coal India. However losers were Lupin, Tech Mahindra, Hindustan Petroleum Corporation, Godrej Consumer Products and Berger Paints India.
BSE Large-cap Index added three percent led by FSN E-Commerce Ventures (Nykaa), Avenue Supermarts, Eicher Motors, Petronet LNG, Hindalco Industries, Indus Towers and Coal India. Losers were Lupin, Tech Mahindra, Hindustan Petroleum Corporation, Godrej Consumer Products and Berger Paints India.
On the BSE Sensex, Reliance Industries added the most in terms of market value, followed Hindustan Unilever, ITC and ICICI Bank in the last week. On the other hand, Tata Consultancy Services, Infosys and HCL Technologies lost most of their market value. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
On the BSE Sensex, Reliance Industries added the most followed by Hindustan Unilever, ITC and ICICI Bank in the last week. On the other hand, Tata Consultancy Services, Infosys and HCL Technologies lost most. (Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
On the sectoral front, BSE Metal index surged 7.3 percent, BSE Capital Goods index added 5.3 percent and BSE FMCG, Auto and Realty indices gained 4-5 percent. On the other hand Information Technology index fell 2 percent.
On the sectoral front, BSE Metal index surged 7.3 percent, BSE Capital Goods index added 5.3 percent and BSE FMCG, Auto and Realty indices gained 4-5 percent. On the other hand, Information Technology index fell two percent.
In the last week, the Indian rupee ended lower against the US dollar. The INR fell 10 paise lower at 77.54 per dollar on May 20 against its May 13 closing of 77.44.
In the last week, the Indian rupee ended lower against the dollar. It fell 10 paise at 77.54 per dollar on May 20 against its May 13 closing of 77.44.
Foreign institutional investors (FIIs) continued there selling, as they sold equities worth of Rs 11,401.34 crore, while domestic institutional investors (DIIs) bought equities worth of Rs 9,472.91 crore. However, in the month of May till now FIIs sold equities worth Rs 44,102.37 crore and DIIs bought equities worth Rs 36,208.27 crore.
Foreign institutional investors (FIIs) continued selling as they offloaded equities worth of Rs 11,401.34 crore, while domestic institutional investors (DIIs) bought equities worth of Rs 9,472.91 crore. In the month of May till now FIIs have sold equities worth Rs 44,102.37 crore and DIIs bought shares worth Rs 36,208.27 crore.
Rakesh Patil
first published: May 21, 2022 09:26 am
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