Market rallied for the fourth consecutive week ended on July 10 boosted by the easing border tension between India and China and PM’s speech at the India global week summit. However, market remained volatile with rising Covid cases worldwide, which resulted in to increasing lockdown in some part of the country and kick start of June earnings from the India Inc which is likely to remain muted.
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Last week, BSE Sensex gained 572.91 points (1.6 percent) to close at 36594.33, while the Nifty50 added 160.65 points (1.5 percent) to end at 10768 levels.
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BSE Mid-cap Index added nearly 1 percent helped by the Varroc Engineering, SAIL, Motilal Oswal Financial Services, National Aluminium Company, M&M Financial Services, Hindustan Aeronautics and JSPL. Losers included Future Retail, IDBI Bank, Indraprastha Gas, Adani Transmission and Nippon Life India Asset Management.
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The BSE Small-cap index gained 1.5 percent. IOL Chemicals, BGR Energy Systems, Ujjivan Small Finance Bank, Sadhana Nitrochem, Yuken India, Ballarpur Industries and Maharashtra Scooters rose more than 25 percent. On the other hand, Omaxe, Borosil Renewables, Future Lifestyle, Future Enterprises, Opto Circuits, and Sintex Industries gained more than 22 percent.
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The BSE Large-cap Index rose over 1 percent. Bosch, Bajaj Finance, Hindalco Industries and IndusInd Bank added over 10 percent, while losers included Bharti Infratel, Adani Ports and ONGC.
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On the BSE Sensex, Reliance Industries added the most in terms of market value, followed by Bajaj Finance, HDFC Bank and Hindustan Unilever, while ITC, ONGC, NTPC and Titan Company 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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On the sectoral front, Nifty Metal Index outperformed other indices with a gain of 3.5 percent followed by Nifty Bank and Nifty IT Index.
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In the last week, the foreign institutional investors (FIIs) sold equities worth Rs 634.85 crore, and domestic institutional investors (DIIs) sold equities worth of Rs 2,609.01 crore.
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In the past week, Indian rupee declined against the US dollar. The domestic currency fell 56 paise to close at 75.20 per dollar on July 10, against its July 03 closing of 74.64 per dollar.
