Market near to record high on FII support; rupee ends flat

Indian equity indices posted solid gains in the truncated week ended March 28 and went closer to their record amid levels on the final session on the financial year 2024 amid mixed global markets, FIIs turn net buyers and fall in the current account deficit.

In this week, BSE Sensex gained 819.41 or 1 percent to end at 73,651.35and Nifty50 index added 260 points or 1 percent to finish at 22,326.90.

BSE Mid-cap Index added 1.3 percent supported by Max Healthcare Institute, Supreme Industries, Aurobindo Pharma, Indian Bank, Indian Hotels Company, Max Financial Services, while losers were Rajesh Exports, Solar Industries India, Schaeffler India, Delhivery, ICICI Securities, IDFC First Bank.

The BSE Large-cap Index rose 1.3 percent supported by led by Interglobe Aviation, Siemens, Indu Towers, Bajaj Finance, Info Edge India, ABB India, Cholamandalam Investment and Finance Company, however losers included Adani Wilmar, SBI Cards & Payment Services, UPL, Tata Consumer Products.

The BSE Small-cap index added nearly 1 percent with 26 stocks gave double digit return including Sanghvi Movers, Bharat Bijlee, Technocraft Industries (India), Transformers and Rectifiers India, Manorama Industries, Aegis Logistics, Angel One, Schneider Electric Infrastructure, among others. However, EKI Energy Services, Sanmit Infra, Primo Chemicals, Jindal Poly Films, Dhani Services and OnMobile Global fell between 10-14 percent.

Among sectors, Nifty Realty index gained 5 percent, Nifty Oil & Gas up 2 percent and Nifty Auto and Healthcare indices added 1.7 percent each, while Nifty Media index shed 3 percent and Nifty Information Technology index added lost 0.8 percent.

In terms of the market value, Reliance Industries added the most, followed by Bajaj Finance, Larsen & Toubro and NTPC. On the other hand, Tata Consultancy Services, Infosys and HCL Technologies 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.)

Foreign institutional investors (FIIs) turned net buyers in this week as they bought equities worth of Rs 2368.76 crore, while Domestic institutional investors (DIIs) continued their support as they bought equities worth Rs 8,913.49 crore.

The Indian rupee ended flat at 83.40 against the US dollar in the week ended March 28 against its March 22 closing 83.42.