Stock Market Today:
Market witnessed extreme volatility but managed to close higher for the second straight week ended January 20 as mixed cues, including better Q3 earnings, reopening of Chinese economy, and weak US consumer data led to renewed concerns over further rate hike by the Federal Reserve going ahead and continued FIIs selling.
For the week, BSE Sensex gained 360.59 points or 0.59 percent to end at 60,621.77 and Nifty50 rose 71.1 points or 0.39 percent to end at 18,027.7 levels.
Among sectors, BSE capital goods and power indices added 2 percent each and oil and gas and information technology indices gained nearly 2 percent each. On the other hand, BSE telecom and auto indices lost 1-2 percent.
Among BSE Sensex, HDFC Bank added the most in terms of market cap followed by Housing Development Finance Corporation, Larsen & Toubro and Infosys. On the other hand, Hindustan Unilever, Reliance Industries and Asian Paints 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.)
The selling from Foreign Institutional Investors (FIIs) continued in this week also, as they offloaded equities worth Rs 2,461.03 crore, while domestic institutional investors (DIIs) bought equities worth of Rs 3,383.72 crore. However, in this month till now, FIIs offloaded equities worth Rs 19,880.11 crore and DIIs bought equities worth Rs 16,182.38 crore.
In the last week, the rupee extended the gains this week also. The INR rose 22 paise against the US dollar to close at 81.12 per dollar on January 20 against its January 13 closing of 81.34.
The BSE Large-cap Index added 0.29 percent led by Adani Total Gas, Coal India, Tech Mahindra, Power Grid Corporation of India, Larsen & Toubro, and Dabur India. However, losers included FSN E-Commerce Ventures (Nykaa), Avenue Supermarts, ICICI Lombard General Insurance Company, Star Health & Allied Insurance Company, Adani Enterprises and Indus Towers.
BSE Mid-cap Index fell 0.66 percent dragged by PB Fintech, Bank Of India, L&T Technology Services, Bajaj Holdings & Investment, Relaxo Footwears, Vedant Fashions and Samvardhana Motherson International.
The BSE Small-cap index shed 0.8 percent. Music Broadcast, PC Jeweller, Vinyl Chemicals (India), Kiri Industries, Rallis India, Vishnu Chemicals, Cantabil Retail India, Sanghi Industries, Meghmani Finechem, Insecticides India and Aarti Surfactants fell 10-26 percent. However, SEPC, Good Luck India, KBC Global, Atul Auto, Jayant Agro-Organics, Xelpmoc Design and Tech, Lloyds Steels Industries, Allied Digital Services, Hariom Pipe Industries, TruCap Finance, Mishtann Foods and Speciality Restaurants added 15-26 percent.