Nifty hits fresh all-time high as market extend gains; realty, telecom outshine

Indian equity indices extended the previous week gains and added a percent with Nifty50 index hitting fresh record high of 22,297.50 in the week ended February 23 led by better macro data, support from global markets, ignoring surging crude oil prices and US bond yields.

In this week, BSE Sensex inched closer to its record high level of 73,427.59 and ended 716.16 or 1 percent higher at 73,142.8. The Nifty50 index rose 172 points or 0.78 percent to end at 22,212.70.

The BSE Small-cap index added 0.8 percent with Jubilant Industries, BF Utilities, Waaree Renewable Technologies, Tourism Finance Corp of India, SML Isuzu, Jai Balaji Industries, Yasho Industries, Indian Hume Pipe Company, KPI Green Energy, eMudhra, Tata Investment Corporation and Solara Active Pharma Sciences 21-32 percent. On the other hand, loser included IFCI, HPL Electric & Power, Coffee Day Enterprises, Orient Cement, Genus Power Infrastructures, Sula Vineyards, Techno Electric & Engineering Company, Motilal Oswal Financial Services, PNB Housing Finance and ZF Commercial Vehicle Control Systems India.

The BSE Large-cap Index rose 1 percent supported by One 97 Communications (Paytm), ABB India, Adani Wilmar, Bharat Electronics, Indus Towers, Varun Beverages and Mahindra and Mahindra. However, losers were Hero MotoCorp, Coal India, Indian Oil Corporation, Bharat Petroleum Corporation and Cholamandalam Investment and Finance Company.

BSE Mid-cap Index ended flat. Gainers included Indian Hotels Company, Vodafone Idea, PB Fintech, Rajesh Exports, Godrej Properties and Cummins India, while losers were Federal Bank, Gland Pharma, Hindustan Petroleum Corporation, Zee Entertainment Enterprises and Bank Of India.

Foreign institutional investors (FIIs) continued to remain seller in this week also as they sold equities worth of Rs 1,939.40 crore, on the other hand Domestic institutional investors (DIIs) bought equities worth Rs 3532.82 crore during the week. However, in the month of February till now, the FIIs sold equities worth Rs 15,857.29 crore, while DIIs bought equities worth Rs 20,925.83 crore.

On the sectoral front, BSE Realty index added 4 percent, BSE Telecom index rose 3.8 percent, BSE FMCG and Power indices gained 1.5 percent each. On the other hand, BSE Oil & Gas index down 2 percent and BSE Information Technology index down 1 percent each.

In terms of the market value, Reliance Industries added the most in terms of market value, followed by ICICI Bank, Sun Pharmaceutical Industries and Mahindra and Mahindra. On the other hand, Tata Consultancy Services, Infosys and Wipro lost the most of their market-cap. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

The Indian rupee ended marginally higher at 82.94 in the week ended February 23 against the February 16 closing 83.01.