Wednesday, October 20, 2021

Sensex crosses 49,000; Nifty ends at 14,823 this week

Sensex and Nifty extended gains in the latest week. The market was under stress at the start of this week amid mounting COVID cases in the country with extended lockdown in some states, but as the week progressed the market got momentum. Indices traded in a range supported by positive global cues and in-line earnings from the Indian Inc.

Strong buying interest in IT and metal stocks lead the market. BSE Sensex and Nifty 50 gained 0.86 and 1.31 per cent this week. The Sensex of Bombay Stock Exchange closed above the 49,200 level while Nifty50 of the National Stock Exchange settled above the 14,823 mark. The Sensex rose 424 points to trade at 49,206 and the Nifty50 surged by 192 points to trade at 14,823.

The BSE Large-cap Index rose 1.5 per cent with NMDC, Tata Steel, Lupin, Marico, Hindalco Industries and Vedanta rose 10-18 per cent.

BSE Mid-cap Index rose 1.4 per cent, carried by Bharat Heavy Electricals, Steel Authority of India, Adani Enterprises, Adani Transmission, IDBI Bank and Motilal Oswal Financial Services while losers included AU Small Finance Bank, Sun TV Network, Godrej Properties, and Future Retail

The BSE Small-cap index added 2.5 per cent with Angel Broking, Indraprastha Medical Corporation, Bajaj Hindusthan Sugar and Tata Steel BSL rose 32-51 per cent. On the other hand, Tata Chemicals, Vikas WSP, Future Enterprises, DCW, and Tasty Bite Eatables were among the major losers.

In BSE Sensex, TCS gained the most in terms of market value, followed by Hindustan Unilever, Bharti Airtel and HDFC this week while Reliance Industries Limited lost the most in term of market value.

On the sectoral indices, Nifty Metal outperformed other indices and gained 10 per cent followed by Nifty PSU Bank which rose 3 per cent and the Nifty IT Index up by 2.3 per cent.

In this week Domestic institutional investors (DIIs) bought equities worth Rs 2,135.23 crore, which lead the market to the green side.

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