The Nifty PSU Bank index outperformed other indices last week with a gain of 6 percent, followed by Nifty FMCG and Nifty IT Index up over 3 percent each.
Market posted gains for the second consecutive week that ended on June 26 amid volatility due to June F&O expiry, earnings, rising COVID-19 cases in India and around the world. The face-off between India and China along the border and the ongoing spat over trade between China and the United States remained investors’ key concerns.
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In the June series, the Sensex and Nifty added over 8 percent. The market posted a gain in a series for the second time in 2020. In June series, all the indices ended higher with Nifty PSU Bank adding over 32 percent, followed by Nifty Realty up 23 percent.
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Last week, BSE Sensex added 439.54 points (1.26 percent) to close at 35,171.27. The Nifty50 rose 138.6 points (1.35 percent) to end at 10,383 levels.
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The BSE Mid-cap Index rose 3.5 percent led by the Indian Overseas Bank, Future Retail, Future Consumer, IDBI Bank, Adani Transmission, Indiabulls Ventures, Edelweiss Financial Services, UCO Bank, MRPL and Trent which gained over 20 percent. The losers included Oil India, New India Assurance Company, Muthoot Finance, Varun Beverages and GMR Infrastructure.
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The BSE Small-cap index gained 2.8 percent last week. Gainers were BLS International Services, Transformers and Rectifiers India, BPL, Adhunik Industries, Ruchira Papers, Imagicaaworld Entertainment. The losers included Kaya, Orient Green Power Company, Capital Trust, Filatex India, Orient Bell and Indian Terrain Fashions.
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The BSE Large-cap index added 1.5 percent. Bandhan Bank, Piramal Enterprises, Vodafone Idea, Hindustan Zinc, Indiabulls Housing Finance and Bank Of Baroda rose over 10 percent. The losers included New India Assurance Company, DLF, ICICI Bank, Housing Development Finance Corporation and Ashok Leyland.
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On the BSE Sensex, TCS added the most in terms of market value, followed by Infosys, Hindustan Unilever, ITC, Bajaj Finance and HDFC Bank. On the other hand HDFC, Reliance Industries (RIL), ICICI Bank, Bharti Airtel and Maruti Suzuki lost most of their market value. Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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In the past week, foreign institutional investors (FIIs) bought equities worth Rs 556.28 crore. Domestic institutional investors (DIIs) sold equities worth of Rs 1,309.52. However, in the month of June till now, FIIs have bought Rs 9,430.09 crore and DIIs have sold Rs 653.04 crore worth of equities.
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The Indian rupee gained against the United States dollar as the domestic unit ended 55 paise higher at 75.64 per dollar on June 26, against its June 19 closing of 76.19 per dollar.
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On the sectoral front, Nifty PSU Bank index outperformed other indices with a gain of 6 percent followed by Nifty FMCG and Nifty IT Index up over 3 percent each.
