The benchmark index declined 1 per cent in the week ended February 11 amid heavy volatility. The prospects of a faster-than-expected hike in the Fed rate amid the announcement of RBI policy, continuous selling of FIIs and rising inflation in the US worked to put pressure on the market.
Last week, the Sensex closed at 58,152.92, down 491.9 points, or 0.83 per cent. On the other hand, Nifty closed at 17,374.8, down 141.5 points or 0.89 per cent.
The BSE Smallcap index lost 3.4 per cent last week. Falling stocks included Forbes Gokak, SOLARA ACTIVE PHARMA SCIENCES, GE Power India, Stove Kraft, Diamines and Chemicals, Fairchem Organics, Lasa Supergenerics, Jubilant Industries, Jaypee Infratech, Goldiam International, Gulshan Polyols, Gati, Panacea Biotec and NGL Fine Chem Name is included. On the other hand, Shankara Building Products, Zee Media Corporation, DB Realty and Gujarat Narmada Valley Fertilizers & Chemicals saw gains.
Last week the BSE Midcap index closed with a fall of 2 per cent. 5-14 per cent in Torrent Power, Endurance Technologies, Tata Power Company, Kansai Nerolac Paints, 3M India, Crompton Greaves Consumer Electrical, ABB India, Zee Entertainment Enterprises, Bayer CropScience, Aditya Birla Capital, RBL Bank, Info Edge India and IDBI Bank decline was observed. On the other hand, Adani Power, JSW Energy and Rajesh Exports saw an increase of 8-14 per cent.
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The BSE Largecap index had also dived 0.8 per cent. percent in largecap index. Godrej Consumer Products, Lupine, DLF, HDFC Life Insurance Company, Larsen & Toubro Infotech, Cadila Healthcare, GAIL India, Larsen & Toubro and HDFC Asset Management Company were the top losers. However, Interglobe Aviation, Hindustan Petroleum Corporation, Tata Steel, Bank of Baroda, Vedanta, Aurobindo Pharma and Petronet LNG were the top gainers.
The market cap of Tata Consultancy Services was the biggest loser in the BSE Sensex. It was followed by Housing Development Finance Corporation, Hindustan Unilever and Larsen & Toubro. On the other hand, Reliance Industries, Tata Steel and Maruti Suzuki India saw the biggest increase in the market value.
If we look at different sectors, the BSE Capital Goods Index had lost 3.8 percent last week. On the other hand, the realty index was down 2.7 percent and FMCG index was down 2.2 percent, while on the other hand the metal index saw a rise of 3.8 percent.
FII selling continued in the Indian equity market last week as well. Last week, FIIs sold Rs 5,641.81 crore while DII bought Rs 3,562.19 crore. However, so far in the month of February, FIIs have sold Rs 9,712.60 crore. On the other hand, DII has sold Rs 5,837.25 crore.
If we look at the currency market, on a weekly basis, the rupee has fallen by 68 paise to close at 75.37 against the dollar last week, while it closed at 74.69 on February 4.
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