Markets closed higher for the first two days of the week but were seen trading choppy trade for the next two days amid no major development on the global and domestic front. However, the bulls took control of the market on the last day of the year and the benchmark indices closed with a gain of 2 per cent this week.
Last week, the BSE Sensex closed at 58,253.82, up 1,129.51 points (1.98 per cent), while the Nifty 50 gained 350.25 points (2 per cent) to close at 17,354. However, in the month of December also, the market registered a gain of 2 percent.
BSE Small-cap index rose nearly 4 per cent with Responsive Industries, Shriram EPC, Jubilant Industries, BGR Energy Systems, Nureca Syncom Formulations, Cybertech Systems and Software, Kingfa Science & Technology, Kabra Extrusion Technik and Vikas WSP up over 30 per cent Viewed. However, PTL Enterprises, Marathon Nextgen Realty, Rushil Decor, Medicamen Biotech, Dilip Buildcon and ISGEC Heavy Engineering remained among the losers.
The BSE Mid-cap index rose 2.5 per cent led by Vodafone Idea, Oil India, Bajaj Holdings & Investment, Torrent Pharmaceuticals, SJVN, GMR Infrastructure, Aditya Birla Capital, Natco Pharma and Glenmark Pharma. However, RBL Bank, Indraprastha Gas, CRISIL, Zee Entertainment Enterprises, Jindal Steel & Power and Steel Authority of India saw a decline.
The BSE large-cap index rose 2 per cent with Titan Company, Sun Pharmaceutical Industries, Cadila Healthcare, Eicher Motors, Lupine, Tata Motors – DVR, Dr Reddys Laboratories, Divis Laboratories and UltraTech Cement gaining 5-8 per cent.
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If we look at the BSE Sensex, the biggest gain in market value was seen in Tata Consultancy Services, HDFC Bank, Titan Company and HCL Technologies last week. On the other hand, Reliance Industries and Tata Steel 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.)
All sectoral indices closed in the green with the BSE Healthcare index rising 5 per cent and auto and telecom indices up 3 per cent.
Foreign institutional investors (FIIs) sold equities for the third consecutive month in December. They sold equities worth Rs 35,493.59 crore, while domestic institutional investors (DIIs) continued to buy and sold Rs 30,000 crore for the second consecutive month. This week, FIIs sold equity worth Rs 2217.1 crore and DII bought equity worth Rs 4,273.55 crore.
The Indian Rupee rose further in the last week. It closed 68 paise higher at 74.33 on December 31, while it closed at 75.01 on December 24.