Weekly Review: Markets end in green for 2nd straight week, sensex up 277 points

Mumbai: Markets continued to rule firm for the second straight week on persistent buying mainly in FMCG and Metal counters following finalisation of GST rates for bulk of the items.

However, global volatility arising out of political developments in the US and emerging markets like Brazil held back the gains, brokers said.

The sensex resumed higher at 30,287.37 and shot up further to all-time intra-day high of 30,712.35 before ending the week at 30,464.92, showing a gain of 276.77 points or 0.92 percent. It has gained by 606.12 points or 2.03 percent in two weeks.

The NSE 50-share Nifty also rose by 27 points or 0.29 percent to close the week at 9,427.90 after hitting an all- time high of 9,532.60. The Nifty has also gained by 142.60 points or 1.54 percent in two weeks.

Mr. Anupam Singhi, COO of William O'Neil India said," Continuing with solid gains last week, the markets started the week with a bang". However with the news of a crisis in the White House flowing in, the markets took a breather and corrected on Thursday, and discounted some gains from the rally.

The Nifty and the Sensex are trading 1.1 pct and 0.81 pct off their all-time highs, respectively. Both the indices are trading comfortably above their 50-Day moving averages.

The broader indices scaled their all-time highs this week, boosted by macro-economic data, government policies, and positive earnings. Several stocks in our portfolio reported earnings surprises.

Owing to the positive macro data, the rupee hit a fresh 21-month high against the U.S. Dollar.

Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) bought shares worth Rs 1,962.92 crore during the week, as per Sebi's record including the provisional figure of May 19.

In the broader market, The BSE Small-Cap index fell by 301.76 points or 1.94 percent to settle at 15,227.07 and the BSE Mid-Cap index also dipped 210.45 points or 1.42 percent to settle at 14,644, underperforming the Sensex.

Among sectoral and industry indices, Fmcg rose by 1.62 percent followed by Metal 1.31 percent, IT 0.94 percent, Teck 0.76 percent and bankex 0.55 percent.

However, Consumer durables fell by 3.28 percent, oil&gas 1.67 percent, Capital goods 1.48 percent, IPO 1.22 percent, realty 1.13 percent, Power 1.05 percent, PSU 0.67 percent and Auto 0.45 percent.

Among the 30-share Sensex pack, 15 stocks rose and remaining 15 stocks fell during the week.

Tata Steel jumped 12.05 percent the biggest gainer from the Sensex pack followed by TCS 6.09 percent, Lupin 4.84 percent, ITC 4.24 percent, SBIN 3.70 percent, ICICI Bank 3.52 percent, Tata Motors 2.92 percent, HUL 2.81 percent, Dr Reddy 2.76 percent, Wipro 2.47 percent BhartiAirtel 2.10 percent and Maruti 0.89 percent.

While, ONGC fell by 2.57 percent, Reliance 2.39 percent, M&M 2.39 percent, GAIL 2.37 percent, HDFC 2.64 percent, Adaniports 1.54 percent, Larsen 0.89 percent, Bajaj Auto 0.73 percent, Cipla 0.56 percent.

The total turnover during the week on BSE and NSE rose to Rs 23,712.19 crore and Rs 1,30,929.07 crore, respectively, as against last weekend's level of Rs 18,690.45 crores and Rs 1,20,528.88 crores.