This week, too, foreign institutional investors (FIIs) continued to be sellers, selling stocks valued at Rs 2,799.08 crore, while domestic institutional investors (DIIs) purchased stocks valued at Rs 3,510.97 crore.
The growing tension between Israel and Hamas, rising crude oil prices, rising bond yields following US Federal Reserve chair Jerome Powell’s remarks about higher interest rates for extended periods of time, and sluggish global markets all contributed to the pressure on the Indian equity market in the week that concluded on October 20.
This week, the Nifty50 dropped 208.4 points, or 1.05 percent, to close at 19542.65, while the BSE Sensex lost 1.33 percent, or 885.12 points, to end at 65,397.62.
The BSE Small-cap index did not close higher. The following companies saw increases: NMDC Steel, MMTC, Housing & Urban Development Corporation, SpiceJet, Bajaj Healthcare, Sterling and Wilson Renewable Energy, Shreyas Shipping, Foods and Inns, Accelya Solutions India, Wendt (India), Andrew Yule and Company, and Shiva Cement. Other companies that saw decreases were SpiceJet, Bajaj Healthcare, Suzlon Energy, Rushil Decor, and Authum Investment & Infrastructure.
The BSE Mid-cap Index saw a 1.3% decrease. A range of 6 to 14 percent was shed by Indraprastha Gas, Biocon, L&T Technology Services, MphasiS, Indian Overseas Bank, Nippon Life India Asset Management, UCO Bank, and Bank Of India. Aditya Birla Fashion & Retail, CRISIL, ICICI Securities, SJVN, Muthoot Finance, L&T Finance Holdings, Supreme Industries, and New India Assurance Company, on the other hand, contributed 3–12%.
ICICI Lombard General Insurance Company, Hero MotoCorp, Bajaj Auto, LTIMindtree, One 97 Communications (Paytm), Havells India, Interglobe Aviation, Bandhan Bank, Cholamandalam Investment and Finance Company, ABB India, and Avenue Supermarts were among the gainers on the BSE Large-cap Index, which saw a 1.17 percent decline.
Reliance Industries lost the greatest market value, followed by Bajaj Finance, Hindustan Unilever, Tata Consultancy Services, and Hindustan Unilever. However, the companies that increased their market capitalization the most were Power Grid Corporation of India, UltraTech Cement, and Nestle India. (Disclaimer: Network18 is the parent company of MoneyControl. Reliance Industries is the only shareholder of Independent Media Trust, which controls Network 18.)
The BSE Telecom, Realty, and Oil & Gas indices all experienced a 2 percent decline, while the Power, Capital Goods, and FMCG indices all saw a 1 percent decline. Conversely, the BSE Auto index experienced a 0.5% increase.
Sector-wise, the BSE Telecom, Realty, and Oil & Gas indexes fell two percent apiece, while the Power, Capital Goods, and FMCG indices dropped one percent apiece. The BSE Auto index, however, increased by 0.5 percent.
This week, too, foreign institutional investors (FIIs) continued to be sellers, selling stocks valued at Rs 2,799.08 crore, while domestic institutional investors (DIIs) purchased stocks valued at Rs 3,510.97 crore. However, in October, the DII bought stocks worth Rs 11,883.80 crore while the FII sold stocks worth Rs 13,411.72 crore.
The Indian rupee recovered some of the ground it had lost against the US dollar, completing the week at 83.12, up 14 paise from its closing price of 83.26 on October 13.