With benchmarks reaching new all-time highs in the week ending December 15, Indian markets continued their winning run for a seventh consecutive week. This was driven by both domestic and global cues that were positive, such as the dovish stance taken by the Fed, FII buying, improved macrodata, and the absence of a change in policy rates by the major global central banks.
This week, the Nifty50 gained 487.3 points, or 2.32 percent, to close at 21,456.70, hitting a new milestone of 21,492.30, while the BSE Sensex increased 2.37 percent, or 1,658.15 points, to end at 71,483.75 after reaching a record high of 71,605.76). Both benchmarks saw weekly gains of 6.5 percent apiece.
Gujarat Fluorochemicals, Steel Authority of India, GMR Airports Infrastructure, Persistent Systems, MphasiS, Union Bank of India, Solar Industries India, and Vodafone Idea led the BSE Mid-cap Index, which gained 11.5 percent and reached a record high of 36,421.02 this week. On the other hand, Torrent Power, Max Financial Services, JSW Energy, PB Fintech, Delhivery, PI Industries, Vedant Fashions, and Crompton Greaves Consumer Electrical were the losers.
With the help of Info Edge India, HCL Technologies, DLF, LTIMindtree, Bandhan Bank, Hindalco Industries, NTPC, and UltraTech Cement, the BSE Large-cap Index increased by almost 11%. Adani Total Gas, Adani Energy Solutions, Bharat Petroleum Corporation, One 97 Communications (Paytm), and ICICI Prudential Life Insurance Company were among the losers.
GTL Infrastructure, Coffee Day Enterprises, PTC India Financial Services, Mangalam Cement, Wockhardt, Inox Green Energy Services, Housing & Urban Development Corporation, Onward Technologies, Vikas WSP, Sandur Manganese and Iron Ores, and Kiri Industries all saw increases of 20–35 percent, contributing to the 9.7 percent increase in the BSE Small-cap index. Conversely, the following companies saw losses ranging from 8 to 22 percent: 63 Moons Technologies, Axita Cotton, Jain Irrigation Systems, BCL Industries, LLOYDS ENTERPRISES, PRAVEG, and EKI Energy Services.
The companies that contributed the most to the market value were Tata Consultancy Services, Infosys, HCL Technologies, and State Bank of India. However, the majority of the market capitalization was lost by Bharti Airtel, Nestle India, and Maruti Suzuki India.
With Nifty Information Technology adding 7%, Nifty PSU Bank and Metal indices rising 5% each, and Nifty Realty index gaining nearly 4%, all sectoral indices finished the day in the green.
This week, domestic institutional investors (DIIs) sold stocks worth Rs 2,592.35 crore, while foreign institutional investors (FIIs) continued their buying spree, purchasing stocks worth Rs 18,858.34 crore. FIIs have invested Rs 29,733.06 crore in stocks so far in December, while DIIs have invested Rs 3,182.20 crore.
The value of the Indian rupee has increased this week, rising 39 paise against the US dollar to close at 83.00 on December 15 as opposed to 83.39 on December 8.