Market gains for the 4th straight week; IT stocks outshine, rupee down marginally - Moneycontrol.com
Nifty IT outperform other indices adding over 4.5 percent followed by Nifty Media (up 3.5 percent) and Nifty Pharma (up 2.5 percent).
The market rose nearly 1 percent last week extending the positive momentum for fourth straight week ended June 11. Benchmark indices hit a fresh record high the week gone by amid falling fresh COVID cases in India, the strong start of monsoon, improved vaccination pace and an expectations of a faster economic recovery
Last week, BSE Sensex gained 374.71 points (0.71 percent) to close at 52,474.76, while the Nifty50 rose 129.15 points (0.82 percent) to ends at 15,799.4 levels. Nifty and Sensex touched A fresh record high of 15,835.55 and 52,641.53, respectively in Friday's session.
BSE Smallcap index rose 3.5 percent. HCL Infosystems, Shree Renuka Sugars, Jaiprakash Associates and BF Utilities were the top gainers, rising as much as 40 percent. Losers included Varroc Engineering, PNB Gilts, Gokaldas Exports, Bank of Maharashtra and Soril Infra Resources which fell 8-13 percent.
BSE Midcap Index gained nearly 2 percent. Adani Power, CRISIL, Tata Power Company and JSW Energy were the top gainers rising 13-40 percent. Adani Enterprises, Voltas and Adani Green Energy were among the top losers.
BSE Largecap Index rose nearly 1 percent supported by the Piramal Enterprises, Power Grid Corporation, Tata Motors DVR, Coal India and NTPC. Losers included Petronet LNG, NMDC and Havells India.
On BSE Sensex, Tata Consultancy Services added the most in terms of market value, followed by Infosys, Reliance Industries and HCL Technologies. On the other hand, HDFC twins lost the most in term of market value. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
On the sectoral front, Nifty IT outperform other indices adding over 4.5 percent followed by Nifty Media (up 3.5 percent) and Nifty Pharma (up 2.5 percent).
Foreign institutional investors (FIIs) bought equities worth Rs 1738.22 crore, while domestic institutional investors (DIIs) sold equities worth of Rs 823.54 crore. So far in June, FIIs have bought equities worth Rs 4,788.03 and DIIs sold equities worth Rs 1,805.27 crore.
Last week, the Indian rupee ended marginally lower against the US dollar. It ended lower by 7 paise at 73.07 on June 11 against its June 4 closing of 73.
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