Market extends losses in third week amid mixed data; Rupee ends flat

Indian equity market ended lower for the third straight week ended August 11 amid volatility led by mixed data points. On the domestic front, robust manufacturing activity, hawkish RBI policy with elevated CPI forecast and imposing Incremental Cash Reserve Ratio (ICRR), while on the global front, weak Chinese data and better US inflation print indicating US Federal Reserve may end the rate hike cycle kept the investors mood in check.

In this week, BSE Sensex lost 0.60 percent or 398.6 points to close at 65,322.65, and Nifty50 shed 0.45 percent or 88.7 points to end at 19,428.30.

BSE Mid-cap Index rose nearly 1 percent with Gland Pharma, Indian Overseas Bank, JSW Energy, Zee Entertainment Enterprises, Emami, Supreme Industries, REC and Motilal Oswal Financial Services rose between 10-23 percent, while losers included Tube Investments of India, PB Fintech, Alkem Laboratories, Balkrishna Industries, MRF, AU Small Finance Bank, ACC and Torrent Power.

The BSE Small-cap index added 0.6 percent with Talbros Automotive Components, Zen Technologies, Tasty Bite Eatables, Banco Products (India), Bajaj Hindusthan Sugar, OnMobile Global, Force Motors, Windlas Biotech, Zee Media Corporation, BF Utilities, Mrs. Bectors Food Specialities, Orient Cement and Hindustan Construction Company gained 20-31 percent. On the other hand, Dreamfolks Services, Ugar Sugar Works, Expleo Solutions, Venkys, Fairchem Organics and Monte Carlo Fashions lost between 15-27 percent.

The BSE Large-cap Index fell 0.5 percent dragged by Info Edge India, Britannia Industries, Asian Paints, Adani Green Energy, Adani Wilmar, Vedanta and ICICI Prudential Life Insurance Company. However, One 97 Communications (Paytm), HDFC Asset Management Company, Mahindra and Mahindra, Adani Transmission and Punjab National Bank are among the major gainers.

On the sectoral front, Nifty Bank and Realty indices shed 1.5 percent each, Nifty FMCG index fell 1 percent, while Nifty Media index rose 7 percent, PSU Bank index added 3 percent and Information Technology index up 1.2 percent.

Among BSE Sensex, HDFC Bank lost the most in terms of marketcap followed by Asian Paints, ICICI Bank and Bharti Airtel, while Reliance Industries, Mahindra and Mahindra and Titan Company added the most of their marketcap.

Foreign institutional investors (FIIs) sold equities worth Rs 4,702.06 crore, while domestic institutional investors (DIIs) bought equities worth Rs 2,224.3 crore in this week.

Indian rupee ended flat for the week at 82.85 on August 11 against its August 4 closing of 82.84.