No articles found to show on this page.
Mumbai: The benchmark Sensex triumphed for third week in a row, registering fresh record closing highs by gaining 477.33 points to finish at 33,940.30, while the broader Nifty ended the new peak at 10,493.00.
The week saw stock market celebrating ‘Christmas’ early as BJP won the Gujarat and Himachal Pradesh elections. The subsequent reverberation led the key indices to mark all time new highs.
The week started on Monday with market rallying on prospects of BJPs is going to win election as counting results started trickled in, and the successive days saw the key indices reacting to BJPs election win underpinning the trading momentum, however, the market also consolidated to end flat for two days on weak global cues and on concerns over RBI corrective action regarding banks bad loans.
Realty, Metal and Auto shares hogged the limelight during the week.
The benchmarks registered all time new peak with Nifty marking 10,500-milestone during the fag-end trade ahead of Christmas, with sentiments supported by the global rally, lifted by the passage of US tax reform bill, which aimed at reducing corporate tax rates also backed by strong US Q3 GDP growth data.
The Sensex started the week gap-down at 33,364.52 and hovered between all-time highs at 33,964.28 and low of 32,595.63 before settling the week fresh record highs of 33,940.30, showing a gain of 477.33, or 1.43 percent.
(The Sensex garnered 630.03 points or 1.92 percent in during previous two week sessions).
The Nifty also resumed the week gap-down at 10,263.10 and registered new-milestone 10,501.10 and low of 10,493.00 to close the week with fresh record peak at 10,493.00, showing a gain of 159.75 points, or 1.55 percent.
The Market will remain closed on 25th December, due to Christmas.
The key indices made fresh highs during the week, while across the spectrum buying was seen led by Consumer Durables, Metal, Realty, Capital Goods, Power, Auto, PSUs HealthCare, IT, Teck, OilGas, FMCG and Banking counters.
The broader midcap and and smallcap company shares also stole the show and within touching distance of their record highs.Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold whopping shares worth Rs 3,805.31 crore during the week, as per Sebi’s record including the provisional figure of December 22.
Broader market rallied. The SP BSE Mid-Cap index jumped 3.53 percent at Rs 599.06 and the SP BSE Small-Cap index spurted 4.52 percent at Rs 820.55. Both these indices outperformed the Sensex.
Among sectoral and industry indices, Consumer Durables climbed followed by metal, realty, consumer goods, power, auto, healthcare, IT, Tech, OilGas and FMCG.
Among the 31-share Sensex pack, 22 stocks rose and remaining 8 stocks fell during the week.
Major Index gainers include, ICICI Bank surged 4.27 percent at Rs 316.40, Wipro rose 4.51 percent at Rs 301.10, Bharti Airtel advanced 2.32 percent at Rs 531.05, NTPC rose 1.44 percent at Rs 179.80, HeroMotoCorp surged 8.11 percent at Rs 3,785.95 and HDFC Bank was up 0.23 percent at Rs 1,877.35.
However, IndusInd Bank dropped 1.85 percent at Rs 1,648.85, Dr Reddy’s Laboratories fell 1.64 percent at Rs 2,333.05, Index heavyweight and housing finance major HDFC was down 0.84 percent at Rs 1,708.35 and Coal India dropped 1.86 percent at Rs 266, Kotak bank fell 1.85 percent at Rs 1,009.95 and Reliance eased 0.15 percent to 918.50.
The total turnover during the week on BSE rose to Rs 26,746.88 crs as against last weekend’s level of Rs 22,617.36 crores and NSE climbed to 1,61,033.21 crores compared to Rs 1,37,439.25 crores previously.