Market achieves new milestones on robust GDP data, inline RBI policy

Favourable global as well as domestic cues helped the Indian market to post biggest weekly gain since July 2022 and also achieved the fresh milestone in the week ended December 8.

In this week, BSE Sensex rose 3.47 percent or 2344.41 points to close at 69,825.60, while Nifty50 surged 701.5 points or 3.46 percent to finish at 20,969.40. On Friday, the Nifty went past the 21,000 mark for the first time when it hit 21,006.10 and the BSE Sensex also touched a new high of 69,893.80.

The BSE Large-cap Index gained 3.8 percent with Adani Total Gas, Adani Green Energy, Adani Energy Solutions, Adani Ports and Special Economic Zone and Adani Power rising 21-64 percent.

BSE Mid-cap Index rose 2 percent led by GMR Airports Infrastructure, ACC, NHPC, Hindustan Petroleum Corporation, REC, Tube Investments of India and LIC Housing Finance. However, Whirlpool of India, PB Fintech, Torrent Pharmaceuticals, Lupin, Aditya Birla Capital, Abbott India, Emami and Delhivery lost 3-8 percent.

The BSE Small-cap index added 1.3 percent. Spencer Retail, BCL Industries, 63 Moons Technologies, Inox Wind, Patel Engineering Company, HLV, Sandur Manganese and Iron Ores, New Delhi Television, KIOCL, Ashapura Minechem, Inox Green Energy Services, Sangam (India) added between 20-51 percent. On the other hand, Uttam Sugar Mills, Avadh Sugar & Energy, Balrampur Chini Mills, Dalmia Bharat Sugar and Industries, Bajaj Hindusthan Sugar, Triveni Engineering and Industries, Praj Industries, Dhampur Bio Organics, Dhampur Sugar Mills, KDDL, Ugar Sugar Works, Indraprastha Medical Corporation and Ethos lost between 10-21 percent.

Indian rupee touched fresh record low of 83.58 against the US dollar during the week. However, domestic currency lost 10 paise to close at 83.39 in the week ended December 8 versus December 1 closing of 83.29.

In this week, Foreign Institutional Investors (FIIs) extended their support, as they bought equities worth Rs 9,285.11 crore, while Domestic Institutional Investors (DIIs) bought equities worth Rs 4326.47 crore.

Among sectors, BSE Power index rose 13 percent, BSE Oil & GAs index added 7.6 percent, and BSE Bank index rose 5.3 percent and BSE Energy index up 5.2 percent. However, BSE FMCG index fell 0.3 percent.

In terms of the market value, Asian Paints added the most in terms of market value, followed by Bajaj Finance, Bajaj Finserv and Bharti Airtel. On the other hand, Hindustan Unilever, Bharti Airtel and ITC lost the most of their market-cap.