Markets move out of 5-week low; metals, real estate better
Markets move out of 5-week losing streak and made a healthy gain in the week ending September 1. Global benchmarks faced pressure from mixed signals, August’s weak monsoons, and surging oil prices. Nonetheless, robust GDP and industrial data boosted investor confidence on Friday.
The Nifty50 surged 0.87%, gaining 169.5 points to close at 19,435.30, while the BSE Sensex rose 0.77%, adding 500.65 points, ending the week at 65,387.16.
The BSE Small-cap index increased by 3.8%.. In the recent market performance, several stocks exhibited significant gains, ranging from 25% to 46%. Notably, India Pesticides, HLV, Take Solutions, RattanIndia Power, Atul Auto, Jai Balaji Industries, Gokaldas Exports, Cerebra Integrated Technologies, Pokarna, Uflex, Coffee Day Enterprises, Skipper, and Sharda Motor Industries all recorded impressive increases.Electronic Mart India, Waaree Renewable, Digispice, Kuantum Papers, and GNA Axles faced significant stock declines.
In the BSE Mid-cap Index, there was a 2.3 percent uptick. Notable losers encompassed Torrent Pharmaceuticals, Power Finance Corporation, Hindustan Petroleum Corporation, Union Bank of India, and Oil India.Bharat Heavy Electricals, Vodafone Idea, Gland Pharma, Steel Authority of India, SJVN, Jindal Steel & Power, and Deepak Nitrite all surged, with gains between 10% and 29%.
Tata Steel, Maruti Suzuki India, Indus Towers, Zomato, Avenue Supermarts, PNB, and DLF drove BSE Large-cap Index’s 1% gain.
Maruti Suzuki tops BSE Sensex gainers, followed by Tata Steel, NTPC, HDFC Bank; Reliance, HUL, Bharti Airtel drop.
BSE Metal up 6%, BSE Realty 5.7%, BSE Telecom 4.5%, BSE Power and Auto both +3.4% in sectoral performance.
Conversely, the BSE FMCG index declined by 0.5%.
For the sixth straight week, FIIs continued selling shares, while DIIs bought shares worth Rs 9,570.03 crore in India… While DII bought shares for Rs 25,016.95 crore and FII sold shares worth Rs 20,620.65 crore in August, respectively.
The rupee closed this week at 82.72 versus the dollar on September 1 compared to 82.65 on August 25.
