The financial market closes week’s last session with a bang pushing the limits to surge and settling high. BSE Sensex rises 177 points to close at 36021 above the 36000 levels. NSE Nifty50 climbs 55 points to close at 10607 crossing the 10600 basic levels. The equity market rallies high for the 3rd consecutive day making continuous gains. Rupee continuing the gaining streak settles high against US Dollar tracking a drop in Crude prices.
The decisive rally of the financial market got support from the positive global cues and news from COVID-19 vaccine. Also, recovering domestic economy helped the market gain more than 2% this week buoying the investor sentiments. The concerns over rising Coronavirus cases subdued recovering economic news and global upliftment. However, lockdown measures can affect the market conditions disturbing the investors. Analysts believe that the market is volatile, and investors are trading on hopes rather than ground realities. They must remain cautious and enjoy short-term benefits.
Top Gainers: S&P BSE Sensex and Nifty50
In the BSE market, Filtra Consultant topped the list by 20%. Other gainers include BGR Energy, Cochin Minerals and Lokesh Machines rising by 19.97%, 18.43% and 15.03% respectively. In the NSE market, Omfurn India surged the highest by 20%. Followed by Lakshmi Finance, Shanti Overseas and Liberty Shoes gaining 19.92%, 19.85% and 14.21% respectively.
On BSE Sensex index, Bharti Airtel gained the highest by 4.05%. Other gainers include Hero Moto Corp, Bajaj Auto, TCS and Titan Company surging by 2.53%, 2.28%, 1.88% and 1.69% respectively. On NSE Nifty50 index, Adani Ports rose the highest by 3.92%. Following that, Eicher Motors, TCS, Bharti Infratel and Tata Motors gained by 3.43%, 1.97%, 1.96% and 1.87% respectively.
Losers: S&P BSE Sensex and Nifty50
In the BSE market, DRA Consultants lost the most by 19.50%. Other top losers include JCL, Mysore Petro and Omaxe losing by 15.08%, 10.45% and 9.97% respectively. In the NSE market, KSS dropped the highest by 10%. Subsequently, Sakar Healthcare, Visagar Polytex and Maan Aluminium decrease by 9.61%, 9.09% and 6.87% respectively.
On BSE Sensex index, ten stocks were in the losing section. IndusInd Bank lost the highest by 1.50%. Other top losers include Tata Steel, HDFC Bank, Nestle and SBI losing by 1.49%, 1.42%, 0.55% and 0.38% respectively. On NSE Nifty50 index, JSW Steel slumps the most by 1.80%. Similarly, Zee Entertainment, Cipla, Bajaj Finance and Hindalco dropped by 1.23%, 1.15%, 1.10% and 0.91% respectively.
FII and DII
Foreign Institutional Investors invested a definite amount of INR 857.29 crores making a robust end to this week’s equity market. Foreign investors bought stocks of value INR 3325.35 crores and disposed-off INR 2468.06 crores worth of shares supporting the decisive run.
Domestic Institutional Investors took out a net value of INR 331.96 crores from the equity market booking profits. Local investors bought stocks of value INR 3094.36 crores and sell-off INR 3426.32 crores of shares, making a negative impact and lowering the end gains.