Markets started the year 2022 on a strong note and continued the bullish momentum for the third week in a row as FIIs became net buyers in the Indian markets despite rising COVID cases and a stern stance by the Fed. Apart from this, strong buying seen in banking and oil and gas stocks also supported the market and the market also saw a rally in the new year.
Last week, the BSE Sensex closed at 59,744.65, up 1,490.83 points (2.55 per cent), while the Nifty gained 458.65 points (2.6 per cent) to end at 17,812.70.
The BSE large-cap index jumped 2.5 per cent, with Grasim Industries, Pidilite Industries and Oil and Natural Gas Corporation rising over 10 per cent each, while Cadila Healthcare, Tech Mahindra, Dr Reddy’s Laboratories and Infosys fell 4-6 per cent. I.
The BSE small-cap index rose 2 per cent, including BGR Energy Systems, Jaiprakash Power Ventures, Tata Teleservices (Maharashtra), 63 Moons Technologies, DB Realty, Urja Global, Jaypee Infratech, Greaves Cotton, Steel Exchange India and JBM Auto 25. An increase of more than a percentage was observed. On the other hand, Hinduja Global Solutions, Spandana Sphoorty Financial, Surya Roshni, Dhanuka Agritech and Brigade Enterprises declined over 10 per cent.
The BSE Mid-cap index rose 2 per cent with AU Small Finance Bank, Rajesh Exports, Cholamandalam Investment, Federal Bank and Page Industries leading while Abbott India, Bajaj Holdings & Investment, MphasiS, Torrent Pharmaceuticals and Glenmark Pharma declined. Went.
GDP growth forecast to be 9.2%, government released advance estimate for FY22
If we look at the BSE Sensex, the market value of Reliance Industries (RIL) increased the most last week, followed by Tata Consultancy Services, Bajaj Finance and HDFC Bank. Infosys, Tech Mahindra and HCL Technologies, on the other hand, were the biggest losers in terms of market value. (Disclaimer: Network 18 Media and Investment Ltd. is owned by Independent Media Trust. Its beneficiary company is Reliance Industries.)
Looking at the sectors, the Bankex and Oil & Gas indices rose 6.3 per cent and 5.3 per cent, respectively, while the Healthcare and Information Technology indices fell 1-2 per cent.
Foreign institutional investors (FIIs) bought equity worth Rs 1,082.83 crore and domestic institutional investors (DIIs) bought equity worth Rs 3,293.28 crore.
The Indian rupee remained mostly unchanged in the past week as it remained flat at 74.30 per dollar on January 7, while the Indian rupee closed at 74.33 on December 31.
.