Market moves out of 5-week trading in the red; metals, realty outperform

Market snapped a five-week losing streak with healthy gains in the week ended September 1. Amid mixed global cues, weak monsoons in August and rising crude oil prices, the benchmarks remained under pressure, however, strong GDP and Manufacturing data boosted investors sentiment on Friday.

In this week, the BSE Sensex gained 0.77 percent or 500.65 points to end at 65,387.16, and the Nifty50 climbed 0.87 percent or 169.5 points to close at 19,435.30.

The BSE Small-cap index surged 3.8 percent. Railtel Corporation of India, India Pesticides, Optiemus Infracom, 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 added 25-46 percent. On the other hand, GNA Axles, Digispice Technologies, Kuantum Papers, Waaree Renewable Technologies, Newgen Software Technologies and Electronics Mart India shed between 10-46 percent.

The BSE Mid-cap Index rose 2.3 percent with Bharat Heavy Electricals, Vodafone Idea, Gland Pharma, Steel Authority of India, SJVN, Jindal Steel & Power and Deepak Nitrite added 10-29 percent, while losers were Torrent Pharmaceuticals, Power Finance Corporation, Hindustan Petroleum Corporation, Union Bank of India and Oil India.

The BSE Large-cap Index gained 1 percent led by Tata Steel, Maruti Suzuki India, Indus Towers, Zomato, Avenue Supermarts, Punjab National Bank and DLF.

In the BSE Sensex pack, Maruti Suzuki India added the most in terms of market-cap followed by Tata Steel, NTPC and HDFC Bank, while Reliance Industries, Hindustan Unilever and Bharti Airtel lost the most of their market-cap.

On the sectoral front, the BSE Metal index gained 6 percent, the BSE Realty index 5.7 percent, and the BSE Telecom index added 4.5 percent, while BSE Power and Auto indices jumped 3.4 percent each. On the other hand, the BSE FMCG index lost 0.5 percent.

The Foreign institutional investors (FIIs) continued their selling in the sixth consecutive week as they offloaded equities worth Rs 4,311.58 crore, while domestic institutional investors (DIIs) bought equities worth Rs 9,570.03 crore in this week. However, in this month of August, FII sold equities worth Rs 20,620.65 crore and DII bought equities worth Rs 25,016.95 crore.

In this week, the rupee ended marginally lower at 82.72 on September 1 against its August 25 closing at 82.65 to a dollar.