The market started last week on a strong note and for 4 consecutive trading days it saw an uptrend. Last week, the benchmark index crossed all the key constraints. Nifty once again appeared to achieve the level of 18000. At the same time, the Sensex again went beyond 61,000. Markets edged higher despite rising Omicron cases and weak macro data from domestic as well as US. Inflation in the US hit a 4-decade peak, but in the meantime a strong start to the third quarter company results season fueled the market.
In the week ended January 14, the Sensex closed at 61,223.03 with a gain of 1,478.38 points, or 2.47 per cent. On the other hand, Nifty closed at 18255.8 with a strength of 443.1 points or 2.48 percent.
The BSE Smallcap index was up 3 per cent last week. More than 100 stocks included in this index saw a growth of more than 10 percent. This includes the names of Gujarat Mineral Development Corporation, Ajmera Realty, Greaves Cotton, Deepak Fertilizers, BCL Industries, Kellton Tech Solutions and Urja Global. On the other hand, GNA Axles, BGR Energy Systems, Shriram EPC and Hikal saw a decline of 10-25 per cent.
Gold prices rise but still below life time high by Rs 8400, know what are the investment opportunities
The BSE Midcap index gained 2.4 per cent during this period. Adani Power, RBL Bank, Indian Hotels Company, Federal Bank, Container Corporation of India, Hindustan Aeronautics and Mahindra & Mahindra Financial Services were among the top gainers in BSE Midcap. While Vodafone Idea, PI Industries, Gland Pharma, Abbott India and Steel Authority of India were the top losers.
Last week, the BSE largecap index rose 2.4 per cent. Stocks like Adani Green Energy, Adani Transmission, Adani Enterprises, Bandhan Bank and Interglobe Aviation and Larsen & Toubro gained 7-19 per cent. On the other hand, Wipro, Avenue Supermarts and Asian Paints saw a decline of 5-10 per cent.
Reliance Industries saw the biggest increase in the market in the BSE Sensex last week. It was followed by Infosys, Tata Consultancy Services and Housing Development Finance Corporation. On the other hand, the biggest fall was seen in the market cap of Wipro, Asian Paints and Hindustan Unilever.
Looking at different sectors, the BSE Power Index closed with a gain of 7.4 percent. On the other hand, capital goods saw a rise of 6 per cent while the realty index was up 5 per cent.
Last week, FIIs sold Rs 4,002.94 crore in the Indian market while domestic funds bought Rs 3629.03 crore.
On a weekly basis, last week the rupee showed strength against the dollar and closed at 74.15 with a gain of 15 paise. Whereas on January 7, the rupee closed at 74.30 against the dollar.