Mumbai: Market posted third straight weekly rise, registering modest gains in the week, up 216.41 points to close at 35,443.67, while the broader Nifty garnered 71.45 points to finish at 10,767.65, after the central bank maintained its neutral stance.
Sustained buying by domestic institutional investors also boosted sentiment amid higher global cues.
Overseas, US stocks closed higher yesterday, with major indexes posting their strongest week in months as investors brushed aside tensions between the US and major allies as a meeting of leaders of the Group of Seven industrialized nations got under way in Canada.
Key indices ended with modest losses on first trading day of the week, led by slide in banking and realty stocks.
The Sensex settled a tad above the psychological 35,000 level after sliding below that level in late trade. Stocks ended volatile session of trade on Tuesday, with modest losses of 108.68 points to settle at 34,903.21.
Domestic stocks logged modest gains in steady session of trade on Wednesday, after the central bank maintained its neutral stance while raising repo rate by 0.25 per cent, recovered by 275.67 points to end at 35,178.88.
The Sensex settled above the psychologically important 35,000 mark. Local stocks logged sharp gains on Thursday, on upbeat global cues.
The market ended the volatile session almost flat on Friday, as losses in banks shares negated gains in IT and pharma shares. Weak global cues also capped gains.
The BSE Sensex started the week higher at 35,503.24 points, the benchmark hovered between 35,628.49 and 34,784.68 before finishing the week at 35,443.67, showing a rise of 216.41 or 0.61 per cent. The Sensex gained 302.39 points or 0.87 pct last week.
The Nifty opened the week at 10,765.95 and traded between 10,818.00 and 10,550.90, The indices finally closed at 10,767.65, up 71.45 points, or 0.67 per cent. The Nifty had gained 91.05 points during previous week.
The gains were led by HealthCare, Metal, Oil&Gas, IT, Teck, Auto, PSU and Realty sectors.
Selling was seen in Power, Capital Goods, IPO, Consumer Durables, Bankex, and FMCG counters.
Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) bought shares worth Rs 2,408.80 crore during the week, as per Sebi's record including the provisional figure of June 08. In the broader market, the BSE Mid-Cap index rose 169.86 points or 1.07 per cent to settle at 16,022.37. The BSE Small-Cap index fell 91.83 points or 0.54 per cent to settle at 16,887.13.
Among sectoral and industry indices, Healthcare rose by 3.70 per cent, followed by metal 2.58 per cent, Oil and Gas 2.13 per cent, IT 1.73 per cent, teck 1.66 per cent, auto 1.32 per cent, PSU 0.71 per cent, and realty 0.23 per cent.
However, power fell by 1.74 per cent, capital goods 1.03 per cent, IPO 0.91 per cent, consumer durables 0.79 per cent, bankex 0.63 per cent, and FMCG 0.11 per cent.
Among the 31-share Sensex pack, 15 stocks rose and the remaining 16 stocks fell during the week. Among pharmaceutical shares, Sun Pharmaceutical Industries was the top gainer in the sensex pack (up 9.38 per cent) last week.
It was followed by Tata Motors 7.96 per cent, Tata Motors DVR 7.26 per cent, Tata Steel 6.75 per cent, Dr Reddy 6.26 per cent, Reliance 5.83 per cent, Infosys 3.24 per cent, SBI 2.23 per cent, Maruti 1.75 per cent and Wipro 1.07 per cent. While Power Grid Corporation of India lost 3.59 per cent.
POWERGRID Parli Transmission, a 100 per cent wholly owned subsidiary of Power Grid Corporation of India, secured through tariff based competitive bidding (TBCB), has successfully completed the Project-progressively and the same has been declared commercial operation on 4 June 2018.
It was followed by HDFC Bank 2.82 per cent, L&T 2.02 per cent, Adani Ports 1.94 per cent, Bharti Artl 1.80 per cent, NTPC 1.61 per cent, Coal India 1.51 per cent, Asian Paints 1.42 per cent and Yes Bank 1.36 per cent.
The total turnover during the week on BSE rose to Rs 18,011.93 crs as against last weekend's level of Rs 16,759.27 crores and NSE decline to 1,41,382.85 crores compared to Rs 1,79,457.86 crores previously.
