Market's hot streak continues in second week as FIIs turn buyers
In the truncated week ended March 17, Indian markets gained four percent on declining crude oil price and foreign institutional investors (FIIs) turning net buyers after 10 weeks
In the truncated week ended March 17, Indian markets continued the winning streak for the second week with a gain of 4 percent led by positive cues including declining crude oil price amid progress in peace talks between Russia and Ukraine and foreign institutional investors (FIIs) turning net buyers after 10 weeks.
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For the week, BSE Sensex rose 2,313.63 points (4.16 percent) to end at 57,863.93 while the Nifty50 added 656.6 points (3.94 percent) to end at 17,287.05 levels.
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The BSE Large-cap Index gained nearly 4 percent led by Bandhan Bank, Piramal Enterprises, Titan Company, Housing Development Finance Corporation, Maruti Suzuki India and Mahindra and Mahindra. Losers were Hindustan Petroleum Corporation, NMDC, Oil and Natural Gas Corporation, Coal India, and Hindalco Industries.
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BSE Mid-cap Index jumped 2.2 percent supported by Ajanta Pharma, PI Industries, Mahindra & Mahindra Financial Services, Nippon Life India Asset Management, Balkrishna Industries, Ashok Leyland, and Motilal Oswal Financial Services.
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The BSE Small-cap index added 2 percent with Angel One, Usha Martin, Andhra Paper, AVT Natural Products, Bharat Dynamics, Tata Teleservices (Maharashtra), Reliance Capital, Brightcom Group, SREI Infrastructure Finance and Technocraft Industries (India) adding over 20 percent each. However, Future Enterprises, Future Lifestyle Fashions, Future Enterprises DVR, Future Retail, Future Supply Chain Solutions, SVP Global Textiles, Take Solutions, Suvidhaa Infoserve, Saregama India, Future Consumer, and Aurionpro Solutions fell 10-20 percent.
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On the BSE Sensex, Reliance Industries added the most followed by HDFC Bank, Housing Development Finance Corporation and ICICI Bank in the last week. On the other hand, Power Grid Corporation of India is the only stock whose market value fell Rs 662.67 crore. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
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All sectoral indices ended in the green with Nifty Auto and Bank indices rising over 5 percent each and Realty index up 4.7 percent.
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In the last week, the Indian rupee gained against the dollar. The rupee ended 79 paise higher at 75.80 per dollar on March 17 against its March 11 closing of 76.59.
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After 10 weeks, foreign institutional investors (FIIs) turned net buyers in the week ended March 17. They bought equities worth of Rs 1,685.87 crore while domestic institutional investors (DIIs) continued to remain net buyers as they bought equities worth of Rs 1290.97 crore. However, in the month of March till now FIIs have sold equities worth Rs 41,617.18 crore and DIIs have bought equities worth Rs 31,620.02 crore.
