The market made up for the losses incurred in the previous week. The 4-week downtrend was also broken in the highly volatile week ended March 11. After a weak start to the week, the market gained momentum amid the Russia-Ukraine war and the BJP-led NDA winning 4 out of 5 states. This also returned investor confidence. Last week, the BSE Sensex closed at 55,550.3, up 1,216.49 points (2.23 per cent). Nifty 50 closed at 16,630.5 with a gain of 385.15 points (2.37 per cent).
The BSE Small-cap index saw a rise of 3.2 percent. It gained 20-38 per cent in Take Solutions, Dwarikesh Sugar Industries, BGR Energy Systems, IOL Chemicals and Pharmaceuticals, Khaitan Chemicals and Fertilizers, Gujarat Ambuja Exports and HEG. On the other hand, KBC Global, JK Cement, Elgi Equipments, GTPL Hathway and Future Lifestyle Fashions fell up to 14 per cent.
The BSE Mid-cap Index rose 3 per cent with support from Indraprastha Gas, Balkrishna Industries, Jindal Steel & Power, Jubilant Foodworks, L&T Finance Holdings, Oberoi Realty and Zee Entertainment Enterprises. However, JSW Energy, Whirlpool of India, Oil India, Natco Pharma, Motilal Oswal Financial Services and 3M India were the main losers.
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The BSE Large-cap Index rose 2.2 per cent with Cipla, Indian Oil Corporation, Sun Pharmaceutical Industries, SBI Cards & Payment Services, DLF, Adani Enterprises, Zydus Lifesciences and Asian Paints contributing. On the other hand, Adani Total Gas, Britannia Industries, Bandhan Bank, Bosch, Axis Bank and Hindustan Zinc registered a decline.
All sectoral indices closed in the green. Of these, Nifty Media and Pharma indices each saw a gain of 6 per cent. On the other hand, Information Technology and Realty indices rose 3 per cent each.
Foreign institutional investors (FIIs) sold equities worth Rs 24,688.44 crore and domestic institutional investors (DIIs) bought equity worth Rs 17,729.12 crore. However, FIIs sold equities worth Rs 43,303.05 crore so far in the month of March and DIIs have bought equity worth Rs 30,329.05 crore.
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If we look at the BSE Sensex, last week Reliance Industries registered the biggest gain in terms of market value. It was followed by Infosys, Tata Consultancy Services and Bharti Airtel. On the other hand, Axis Bank, ICICI Bank and Maruti Suzuki India suffered the most in terms of market value. (Disclaimer: Network 18 Media & Investment Ltd. is owned by Independent Media Trust. Its beneficiary company is Reliance Industries.)
The Indian rupee closed 43 paise lower at 76.59 per dollar on March 11, from 76.16 on March 4.
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