Market ends flat amid volatility; rupee recovers

After closing first three sessions on a positive note, the Indian equity markets came under pressure in next two sessions amid weak global markets as market participants await Federal Reserve Chairman Jerome Powell’s speech at Jackson Hole for indications of the future direction of interest rates.

In this week, BSE Sensex was down 0.09 percent or 62.15 points to close at 64,886.51, and Nifty50 fell 0.22 percent or 44.35 points to finish at 19,265.80.

The BSE Small-cap index rose 2 percent with Prakash Industries, Kopran, Titagarh Rail Systems, Jupiter Wagons, International Conveyors, Garware Hi-Tech Films, Gujarat Mineral Development Corporation, Gabriel India, Atul Auto, Centum Electronics and Jain Irrigation Systems added over 20 percent. On the other hand, Sadhana Nitrochem, DCM Shriram Industries, Shoppers Stop, Kirloskar Oil Engines, MSP Steel & Power, Tanla Platforms, Windlas Biotech, Tega Industries and Cerebra Integrated Technologies falling 9-16 percent.

BSE Mid-cap Index added 1.5 percent supported by GMR Airports Infrastructure, Vodafone Idea, Sun TV Network, Godrej Industries, Bharat Heavy Electricals, Mahindra & Mahindra Financial Services, Adani Power and Cholamandalam Investment and Finance Company. Losers included Rajesh Exports, Bank Of India, Union Bank of India, JSW Energy and Ajanta Pharma.

The BSE Large-cap Index ended on flat note. Gainers included Tata Power Company, Indus Towers, Bajaj Finance, Siemens, One 97 Communications (Paytm) and Axis Bank, while losers were Ambuja Cements, Adani Ports and Special Economic Zone, Reliance Industries, Adani Enterprises and Zydus Lifesciences.

Among BSE Sensex, Bajaj Finance added the most in terms of market-cap followed by ICICI Bank, Infosys and Axis Bank, while Reliance Industries, HDFC Bank and Sun Pharmaceutical Industries lost the most of their market-cap.

Among sectors, BSE Pharma and Nifty PSU Bank indices down 1.5 percent each, Nifty Energy Index down 1.2 percent, while Nifty Information Technology index added 1 percent and Nifty Media index up 0.6 percent.

The selling from Foreign institutional investors (FIIs) continued in the fifth straight week as they offloaded equities worth Rs 4,895.29 crore, while domestic institutional investors (DIIs) bought equities worth Rs 8,495.99 crore in this week. However, in this month so far, FII sold equities worth Rs 15,821.13 crore and DII bought equities worth Rs 17,741.85 crore.

In this week, Indian rupee recovered smartly after moving above 83 mark for the first time in ten months in the previous week ended August 18. The domestic currency rose 45 paise for the week to close at 82.65 on August 25 against its August 18 closing of 83.10.