Mumbai: Markets continued to rule firm for the second straight week on persistent buying mainly in FMCG and Metal counters following finalisation of GST rates for bulk of the items. However, global volatility arising out of political developments in the US and emerging markets like Brazil held back the gains, brokers said.
The sensex resumed higher at 30,287.37 and shot up further to all-time intra-day high of 30,712.35 before ending the week at 30,464.92, showing a gain of 276.77 points or 0.92 per cent. It has gained by 606.12 points or 2.03 per cent in two weeks. The NSE 50-share Nifty also rose by 27 points or 0.29 per cent to close the week at 9,427.90 after hitting an all- time high of 9,532.60. The Nifty has also gained by 142.60 points or 1.54 per cent in two weeks.
Mr. Anupam Singhi, COO of William O'Neil India said," Continuing with solid gains last week, the markets started the week with a bang". However with the news of a crisis in the White House flowing in, the markets took a breather and corrected on Thursday, and discounted some gains from the rally.
The Nifty and the Sensex are trading 1.1 per cent and 0.81 per cent off their all-time highs, respectively. Both the indices are trading comfortably above their 50-Day moving averages. The broader indices scaled their all-time highs this week, boosted by macro-economic data, government policies, and positive earnings. Several stocks in our portfolio reported earnings surprises. Owing to the positive macro data, the rupee hit a fresh 21-month high against the US dollar.
Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) bought shares worth Rs 1,962.92 crore during the week, as per Sebi's record including the provisional figure of May 19. In the broader market,
The BSE Small-Cap index fell by 301.76 points or 1.94 per cent to settle at 15,227.07 and the BSE Mid-Cap index also dipped 210.45 points or 1.42 per cent to settle at 14,644, underperforming the Sensex.
Among sectoral and industry indices, Fmcg rose by 1.62 per cent followed by Metal 1.31 per cent, IT 0.94 per cent, Teck 0.76 per cent and bankex 0.55 per cent. However, Consumer durables fell by 3.28 per cent, oil&gas 1.67 per cent, Capital goods 1.48 per cent, IPO 1.22 per cent, realty 1.13 per cent, Power 1.05 per cent, PSU 0.67 percent and Auto 0.45 per cent.
Among the 30-share Sensex pack, 15 stocks rose and remaining 15 stocks fell during the week. Tata Steel jumped 12.05 per cent the biggest gainer from the Sensex pack followed by TCS 6.09 per cent, Lupin 4.84 per cent, ITC 4.24 per cent, SBIN 3.70 per cent, ICICI Bank 3.52 per cent, Tata Motors 2.92 per cent, HUL 2.81 per cent, Dr Reddy 2.76 per cent, Wipro 2.47 per cent BhartiAirtel 2.10 per cent and Maruti 0.89 per cent.
While, ONGC fell by 2.57 per cent, Reliance 2.39 per cent, M&M 2.39 per cent, GAIL 2.37 per cent, HDFC 2.64 per cent, Adaniports 1.54 percent, Larsen 0.89 per cent, Bajaj Auto 0.73 per cent, Cipla 0.56 per cent. The total turnover during the week on BSE and NSE rose to Rs 23,712.19 crore and Rs 1,30,929.07 crore, respectively, as against last weekend's level of Rs 18,690.45 crores and Rs 1,20,528.88 crores.