Sensex retakes 32,000, gains 152 points in festive week
The Sensex and the Nifty both attained new record high levels during the week. Key indices declined marginally in two out of three trading sessions.business Updated: Oct 21, 2017 11:00 IST
The BSE Benchmark started the holiday truncated week with heavy gains, as both indices made fresh highs on positive trade data and encouraging comments from the IMF chief on the outlook for Indian economy cheered investors. Sentiment was also cheerful ahead of Diwali festival.
However, after gaining a bullish momentum, the indices started consolidating on Tuesday, the Nifty ended almost flat while the Sensex ended in red and on Wednesday the Nifty observed some heavy distribution as it gained one distribution day, while the Sensex posted a loss of almost 25 points.
The Sensex and the Nifty both attained new record high levels during the week. Key indices declined marginally in two out of three trading sessions.
In the week ended on Wednesday, the Sensex rose 151.66 points or 0.47% to settle at 32,584.35. The Nifty 50 index rose 43.40 points or 0.43% to close at 10,210.85.
Broader indices also extended their gains this week, as the Nifty Midcap and the Smallcap indices advanced 0.94% and 0.81%, respectively.
Buying was led by oil&gas, realty, metal, power, FMCG, auto,healthcare,teck and capital goods sectors, well supported by second line shares of mid-cap and small-cap companies.
Selling were led by banking, IPO, IT and consumer durables counters.
The benchmark Sensex has gained 4,642.84 points, or 16.61%, in the Hindu Samvat year 2073, while the broader NSE Nifty rose 1,572.85 points, or 18.20 per cent during this period.
In a special Muhurat trading session on Thursday, benchmark Sensex surrendered initial rise to end over 194 pts down at 32,389.96 to mark the start of Hindu Samvat year 2074.
Banking stocks led the fall, as participants booked profits to write their first entry with gains on the first session of Samvat 2074.
The broader NSE Nifty too dipped below the 10,200-mark in the special one-hour Muhurat session.
The bourses remained closed on Friday for ‘Diwali Balipratipada’.
Telecom major Bharti Airtel was the top Sensex gainer last week. The stock rose 7.19% to Rs 462.65 after the company and Millicom International Cellular S.A. announced the closure of the deal to combine their operations in Ghana.
Index heavyweight Reliance Industries rose 4.23 per cent to Rs 913.75 after consolidated net profit rose 12.79% to Rs 8097 crore.
Axis Bank was the biggest loser in the Sensex pack. The stock slumped 12.30 percent to Rs 464.35 as the bank’s bad loans rose sequentially and annually in Q2 September 2017.
Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold shares worth Rs 1,329.18 crore during the week, as per Sebi’s record including the provisional figure of October 18.
The S&P BSE Mid-Cap index advanced 149.29 points or 0.94 per cent to settle at 16,115.98. The S&P BSE Small-Cap index gained 137.73 pts or 0.81% to close at 17,063.39.
Among sectoral and industry indices,oil and gas rose by 2.42% followed by realty 1.78% , metal 1.75%, power 1.25% , FMCG 0.85% , auto 0.81% , healthcare 0.81%, teck 0.65% and capital goods 0.36%, while bankex fell by 2.02%, IPO 1.85%, IT 0.02% and consumer durables 0.01%.
Among the 31-share Sensex pack, 22 stocks rose and remaining 9 stocks fell during the week.
Bharti Airtel rose by 7.19% followed by Reliance 4.23%, Powergrid 3.67%, M&M 3.39%, Cipla 3.14%, ONGC 2.41%, Tata Motors DVR 2.40%, Tata Motors 2.14% and Bajaj Auto 2.01%.
However, Axis Bank slumped by 12.30% followed by SBI 3.27%, ICICI Bank 3.08%, Lupin 1.18%, Maruti 1.02%, ITC 0.80% and HDFC 0.72%.
The total turnover during the week on BSE fell to Rs 10,448.25 crs as against last weekend’s level of Rs 19,551.14 crores, While NSE dipped to 88,518.18 crores compared to Rs 1,39,441.64 crores previously.