Market gains continue in the second week, while rupees decline

Due to strong auto sales data, stronger GST revenues, and FII purchases over the week, the Indian equity market resumed its winning streak for the second week. However, Friday’s sell-off wiped out part of the weekly gains.

The BSE Sensex increased 524.04 points, or 0.66 percent, to settle at 79,223.11 this week, while the Nifty50 index finished at 24,004.75, up 191.35 points, or 0.80 percent.

The BSE Large-cap Index experienced a 1% increase. The BSE Mid-cap Index experienced a 1.3% rise. The BSE Small-cap index had a 2% increase. The Nifty Auto, Nifty Oil & Gas, Nifty Energy, and FMCG indexes all increased by 4%, 3.4%, and 2.5%, respectively, while the Nifty Realty index decreased by 2.5%.

The largest contributor to its market value was Reliance Industries, which was followed by Bajaj Finance and Maruti Suzuki India. However, Tata Consultancy Services, ICICI Bank, and HDFC Bank saw the worst declines in market capitalization.

Domestic Institutional Investors (DII) purchased stocks worth Rs 9253.7 crore, while Foreign Institutional Investors (FIIs) sold stocks worth Rs 11,041.59 crore.

The rupee’s depreciation persisted this week, closing 24 paise weaker on January 3 at 85.78 per dollar compared to its closing of 85.54 on December 27.

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