Market hits fresh record high amid volatility; rupee gains

Indian equity indices climbed to fresh record highs in the highly volatile first week of new financial year amid mixed global cues, cautious approach of Fed official on rate cut going ahead, higher yields, rising crude oil prices and inline RBI policy outcome.

In this week, BSE Sensex rose 596.87 or 0.81 percent to finish at 74,248.22 and touched record high of 74,501.73. Nifty50 index gained 186.8 points or 0.83 percent to close at 22,513.70 and touched new high of 22,619.

The BSE Small-cap index gained nearly 7 percent with Best Agrolife, Indraprastha Medical Corporation, OnMobile Global, EKI Energy Services, Centrum Capital, Andrew Yule and Company, Paramount Communications, Vinyl Chemicals (India), Oswal Greentech, Manali Petrochemicals and Primo Chemicals added 28-52 percent. On the other hand, losers included Rama Steel Tubes, Kaynes Technology India, Ashapura Minechem, Archean Chemical Industries, Metro Brands, Gujarat Themis Biosyn, Suven Pharmaceuticals, SignatureGlobal India, Marathon Nextgen Realty and Heritage Foods.

BSE Mid-cap Index surged 4 percent. Indian Renewable Energy Development Agency, Schaeffler India, Rajesh Exports, Aditya Birla Capital, Aditya Birla Fashion & Retail, PB Fintech, JSW Energy, Nippon Life India Asset Management, Castrol India, AU Small Finance Bank, Laurus Labs, Muthoot Finance, Voltas, Whirlpool of India, SJVN, Indian Overseas Bank and Torrent Power added 10-30 percent.

The BSE Large-cap Index jumped 1 percent led by Adani Power, Vedanta, Hindustan Zinc, Bharat Electronics, Punjab National Bank, Adani Wilmar, Bandhan Bank ad Divis Laboratories.

In terms of the market value, HDFC Bank added the most, followed by Tata Consultancy Services, NTPC and Mahindra and Mahindra. On the other hand, Reliance Industries, Bharti Airtel, ICICI Bank 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.)

In this week, Foreign institutional investors (FIIs) sold equities worth of Rs 3,835.75 crore.

Among sectors, Nifty Media index jumped 6.7 percent, Nifty Metal added 5.3 percent and Nifty PSU Bank up 4.2 percent and Nifty Realty index rose 4 percent.

During the week, the Indian rupee gained against the US dollar. The domestic unit ended 12 paise higher at 83.28 on April 5 against its March 28 closing 83.40.