Ahead of Diwali festival, the market stayed upbeat throughout the week amid positive global markets, decent earnings from India Inc and FII support. For the week, BSE Sensex added 1,387.18 points or 2.39 percent to end at 59,307.15, while the Nifty50 gained 390.6 points or 2.27 percent to close at 17576.3 levels. The BSE Large-cap Index added over 2 percent supported by the Punjab National Bank, Axis Bank, Bank Of Baroda, HDFC Asset Management Company, Adani Transmission, Nestle India and Adani Total Gas. BSE Mid-cap Index gained 0.4 percent led by Canara Bank, Union Bank of India, NHPC, Bank Of India, Supreme Industries, Container Corporation of India and Bharat Heavy Electricals. However, Delhivery, PB Fintech, Tata Elxsi, Samvardhana Motherson International, CRISIL, ABB India and Laurus Labs lost 5-31 percent.
The BSE Small-cap index ended on a flat note. Exxaro Tiles, Suzlon Energy, Jammu and Kashmir Bank, HPL Electric & Power, Indian Bank, Binny, Elgi Equipments, South Indian Bank and Deepak Fertilizers added 15-30 percent. On the other hand, Rajratan Global Wire, J Kumar Infraprojects, Nureca, DCM NOUVELLE, Thangamayil Jewellery, Xelpmoc Design and Tech, Brightcom Group, Johnson Controls, HPCL, Waaree Renewable Technologies, HeidelbergCement India, FCS Software Solutions and Cosmo First lost 10-17 percent.
On the sectoral front, the Nifty PSU Bank index added 11 percent, Nifty Bank index rose 3.7 percent and Nifty Oil & Gas index rose 3.4 percent. On the other hand, Nifty Metal and Media sectors ended marginally lower. Among BSE Sensex, Reliance Industries added the most in terms of market cap, followed by Axis Bank, State Bank of India and ICICI Bank. On the other hand, Asian Paints, Larsen & Toubro and Bajaj Finance lost most of their market cap. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
During the week, foreign institutional investors (FIIs) bought equities worth Rs 1,324.34 crore of equities, while domestic institutional investors (DIIs) bought equities worth of Rs 3,569.49 crore. However, in the month of October FII sold equities worth Rs 8,653.92 crore, while DII bought equities worth Rs 11,624.54 crore.
Indian rupee crossed the 83 mark and hit fresh record low of 83.29 per dollar in the week gone by. The INR ended 50 paise lower at 82.86 per dollar on October 21 against its October 14 closing of 82.36.