In relation to the US dollar, the Indian rupee finished the week at 83.37, down 10 paise from its closing value of 83.27 on November 17.
On the strength of prolonged purchasing from FIIs, declining crude oil prices and bond yields, and the potential that the US Fed won’t raise rates in the near future, the Indian benchmark indexes finished the week slightly higher and continued their winning run for the fourth straight week that concluded on November 24.
This week, the Nifty50 increased 62.9 points, or 0.31 percent, to close at 19,794.7, while the BSE Sensex gained 0.26 percent, or 175.31 points, to end at 65,970.04.
New India Assurance Company, CG Power and Industrial Solutions, Tube Investments of India, SJVN, Gland Pharma, and Bharat Heavy Electricals were the top gainers on the BSE Mid-cap Index, which increased by 0.7 percent. Oil India, Rajesh Exports, Solar Industries India, Indian Bank, and Vodafone Idea were among the losers.
63 Moons Technologies, Prataap Snacks, Summit Securities, Nahar Spinning Mills, Goldiam International, Sequent Scientific, Man Infraconstruction, 3i Infotech, Syncom Formulations, Rattanindia Enterprises, and Talbros Automotive Components contributed more than 20 percent, contributing 0.5 percent to the BSE Small-cap index. As opposed to this, the following companies saw losses: Spandana Sphoorty Financial, Apollo Micro Systems, SEPC, Repco Home Finance, RattanIndia Power, Rategain Travel Technologies, Reliance Power, and Jindal Saw.
At the close, the BSE Large-cap Index was flat. While Zomato, Info Edge India, Cipla, Bharat Electronics, and Oil and Natural Gas Corporation were losers, winners included Life Insurance Corporation of India, Adani Wilmar, Hero MotoCorp, Hindustan Aeronautics, and Bajaj Auto Bharat Petroleum Corporation.
Reliance Industries added the highest value to the market, followed by HDFC Bank, Bharti Airtel, Titan Company, and so on. However, the majority of the market capitalization was lost by Larsen & Toubro, Bajaj Finance, and Tata Consultancy Services. (Disclaimer: Network18 is the parent company of MoneyControl. Reliance Industries is the only shareholder of Independent Media Trust, which controls Network 18.)
Sector-wise, the Nifty Metal, Nifty Oil & Gas, and Nifty Pharma indices all increased by 1%, while the Nifty Realty index increased by 1.5%. Conversely, the Nifty Information Technology index fell by 0.4 percent and the Nifty PSU Bank index fell by 1.7 percent.
Foreign institutional investors (FIIs) also purchased stocks for Rs 1,472.87 crore this week, while domestic institutional investors (DIIs) continued their buying spree, purchasing stocks worth Rs 2,112.38 crore. FIIs have sold stocks valued at Rs 5,101.72 crore this November, while DIIs have purchased stocks valued at Rs 9,814.84 crore.
In relation to the US dollar, the Indian rupee finished the week at 83.37, down 10 paise from its closing value of 83.27 on November 17.