Advertisement
trendingNowenglish2034228https://zeenews.india.com/markets/weekly-review-market-end-with-gains-for-the-week-up-311-points-2034228.html

Weekly Review: Market end with gains for the week, up 311 points

The market recorded gains in during the truncated trading week, with benchmark Sensex rising 311.09 to close at 31,524.68, while the broader Nifty garnering 126.60 points to finish at 9,837.40.

Weekly Review: Market end with gains for the week, up 311 points

Mumbai: The market recorded gains in during the truncated trading week, with benchmark Sensex rising 311.09 to close at 31,524.68, while the broader Nifty garnering 126.60 points to finish at 9,837.40.

The week saw the investors sentiment calmed following easing geo-political tension with North Korea deciding against executing last week's threat to launch missiles towards the US territory of Guam, while dovish tone emanated despite US Fed's minutes stating uncertainities on rate hike.

Market players followed instinct as bargain hunting in recently beaten down shares and stock specific action lifting the key indices, it was also fuelled by hectic buying by domestic institutional investors (DIIs).

The government GST rate revision lifted FMCG stocks, while announcement of share buy-back by IT major Infosys slos supported the sentiment.

However, the good gains were thwarted by surprise exit of Infosys CEO Vishal Sikka and terrorist attacks in Spain (Barcelona) and worries about the Trump administration's ability to push through its economic agenda cast negative impact on the market.

The stock market was closed on Tuesday 15th August for 'Independence Day'.

After opening at 31,299.52 points, the benchmark traded between 31,937.51 and 31,298.90 before finishing the week at 31,524.68, showing a gain of 311.09 or 1.00 percent.

The Sensex slumped by 1,111.82 points or 3.44 percent last week.

The Nifty started the week at 9,755.75 and hovered between 9,947.80 and 9,752.10 The index finally closed at 9,837.40, up 126.60 points, or 1.30 percent from last Friday's close.

The Nifty lost 355.60 points or 3.53 percent during previous week.

The gains were led by Realty, Metal, FMCG, Power, Consumer Durable, IPOs, Oil&Gas, PSUs, Auto, Capital Goods and HealthCare sectors, while secondline midcap and smallcap shares also ended with substantial gains.

IT and Teck ended the week with losses.

Domestic funds bought shares net Rs 4,369.26 crores during the week.

However, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold shares worth net Rs 7,157.16 crore during the week, as per Sebi's record including the provisional figure of August 18.

Among the 31-share Sensex pack, 23 stocks rose and remaining 8 stocks fell during the week.

Major gainers were Tata Steel 4.91 percent followed by Cipla 4.24 percent, HUL 4.17 percent, Sun Pharma 4.14 percent, Hero Motoco 3.94 percent, ITC 3.77 percent, Coal India 3.16 percent, NTPC 2.51 percent, Bharati Airtel 2.27 percent, Maruti 2.24 percent, Powergrid 2.17 percent, HDFC 2.12 percent, Icici Bank 2.07 percent and Reliance Ind 1.87 percent.

However, Infosys fell sharply by 6.55 percent and Dr Reddy Lab 1.41 percent.

Among the major indices S&P BSE Realty rose by 6.60 percent followed by Metal 5.39 percent, FMCG 3.73 percent, Power 3.36 percent, Consumer Durable 3.29 percent, Oil&Gas 2.94 percent and Auto 2.14 percent.

Small-cap and Mid-cap indices also rose by 3.88 percent and 3.27 per respectively on good enquiries from retail investors.

The total turnover during the week on BSE and NSE fell to Rs 14,632,13 crores and Rs 1,03,308.46 crores respectively from the last weekend's level of Rs 23,778.08 crore and Rs 1,43,020.34 crore.

Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.

NEWS ON ONE CLICK