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Last Updated : Jul 26, 2020 06:38 PM IST | Source: Moneycontrol.com

Slideshow | Market rallies for the 6th straight week on better earnings, vaccine hopes, FIIs support

In the last week, the foreign institutional investors (FIIs) bought equities worth Rs 7791.8 crore.

Market continued its rally in the sixth consecutive week helped by the better than expected earnings from India Inc and firm global cues. Also, the rally fueled by the largecaps including Reliance Industries, progress in the development of a Covid-19 vaccine and hopes of another round of US fiscal stimulus. However, escalating US-China trade tensions and record virus infections in India limit the gains.

The market continued its rally for the sixth consecutive week helped by the better-than-expected earnings from India Inc and firm global cues. Also, the rally fueled by the largecaps, progress in the development of a COVID-19 vaccine and hopes of another round of US fiscal stimulus. However, escalating US-China trade tensions and record virus infections in India limit the gains.

Last week, BSE Sensex gained 1108.76 points (3 percent) to close at 38,128.9, while the Nifty50 added 292.45 points (2.7 percent) to end at 11,194.15 levels.

Last week, BSE Sensex gained 1108.76 points (3 percent) to close at 38,128.9, while the Nifty50 added 292.45 points (2.7 percent) to end at 11,194.15 levels.

The BSE Large-cap Index jumped 2.3 percent helped by the Reliance Industries, Power Grid Corporation, Eicher Motors, HCL Technologies and Tech Mahindra. However, Petronet LNG, Hindustan Unilever, Vodafone Idea and Lupin remained on the losing side. Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

The BSE Largecap Index jumped 2.3 percent helped by the Reliance Industries, Power Grid Corporation, Eicher Motors, HCL Technologies and Tech Mahindra. However, Petronet LNG, Hindustan Unilever, Vodafone Idea and Lupin remained on the losing side. Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

In the last week BSE Small-cap index gained 1.4 percent supported by the Indo Count Industries, Tanla Solutions, BLS International Services, Pricol, Majesco, Va Tech Wabag, Vikas Ecotech and Reliance Communications, while IIFL Securities, Future Supply Chain Solutions, Borosil Renewables, Opto Circuits, Sterlite Technologies, Kridhan Infra and BGR Energy Systems fell between 12-21 percent.

Last week, BSE Smallcap index gained 1.4 percent supported by the Indo Count Industries, Tanla Solutions, BLS International Services, Pricol, Majesco, Va Tech Wabag, Vikas Ecotech and Reliance Communications, while IIFL Securities, Future Supply Chain Solutions, Borosil Renewables, Opto Circuits, Sterlite Technologies, Kridhan Infra and BGR Energy Systems fell between 12-21 percent.

BSE Mid-cap Index added 1.2 percent. Edelweiss Financial Services, AU Small Finance Bank, MphasiS, Mahindra & Mahindra Financial Services, PNB Housing Finance, GMR Infrastructure, Adani Enterprises and Aditya Birla Fashion rose over 10 percent each. However, losers were Future Retail, JSPL, Nippon Life India and MRF.

BSE Midcap Index added 1.2 percent. Edelweiss Financial Services, AU Small Finance Bank, MphasiS, Mahindra & Mahindra Financial Services, PNB Housing Finance, GMR Infrastructure, Adani Enterprises and Aditya Birla Fashion rose over 10 percent each. However, losers were Future Retail, JSPL, Nippon Life India and MRF.

On the BSE Sensex, Reliance Industries added the most in terms of market value, followed by ICICI Bank, HCL Technologies, HDFC Bank, while Hindustan Unilever, Tata Consultancy Services, Sun Pharmaceutical and Bharti Airtel lost most of their market value. Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media Ltd.

On the BSE Sensex, Reliance Industries added the most in terms of market value, followed by ICICI Bank, HCL Technologies, HDFC Bank, while Hindustan Unilever, Tata Consultancy Services, Sun Pharmaceutical and Bharti Airtel lost most of their market value.

On the sectoral front, Nifty Energy Index outperformed other indices with a gain of over 6 percent followed by Nifty Bank and Nifty IT. On the other hand Nifty Pharma and Nifty FMCG indices ended lower.

On the sectoral front, Nifty Energy Index outperformed other indices with a gain of over 6 percent followed by Nifty Bank and Nifty IT. On the other hand, Nifty Pharma and Nifty FMCG indices ended lower.

In the last week, the foreign institutional investors (FIIs) bought equities worth Rs 7791.8 crore, however, domestic institutional investors (DIIs) sold equities worth of Rs 5,323.10 crore. In the month of July till now, FII bought equities worth Rs 3,801.51 and DII sold equities worth of Rs 7,562.47 crore.

In the last week, the foreign institutional investors (FIIs) bought equities worth Rs 7791.8 crore, however, domestic institutional investors (DIIs) sold equities worth of Rs 5,323.10 crore. In the month of July till now, FII bought equities worth Rs 3,801.51 and DII sold equities worth of Rs 7,562.47 crore.

Indian rupee gained further against the US dollar in this week. The domestic currency rose 19 paise to close at 74.83 per dollar on July 24, against its July 17 closing of 75.02 per dollar.

The Indian rupee gained further against the US dollar this week. The domestic currency rose 19 paise to close at 74.83 per dollar on July 24, against its July 17 closing of 75.02 per dollar.

First Published on Jul 26, 2020 08:15 am
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