Foreign institutional investors continued to remain on a buying spree this week also as they bought shares for the 10th consecutive day on Friday. For the week ended July 22, 2016, FIIs bought shares worth Rs 2,838.53 crore in the domestic equity markets. However, they failed to boost market sentiments as the BSE Sensex closed the week on a flat note with marginal losses of 33.26 points. The index slipped to 27,803.24 on July 22 from 27,836.50 on July 15. However, Nifty50 index stood unchanged at 8,541.
For the coming week, the market is expected to be volatile on account of expiry of F&O contract.
In the 50-share index, Tata Motors DVR, Bharat Petroleum Corporation, Aurobindo Pharma, Coal India and ACC gained 6.15 per cent, 5.15 per cent, 5.02 per cent, 4.23 per cent and 3.85 per cent, respectively, in the past five trading sessions. However, Bank of Baroda, Axis Bank, Idea Cellular, HUL and State Bank of India dipped 8.13 per cent, 4.96 per cent, 4.14 per cent, 4.08 per cent and 3.48 per cent, respectively.
Sectorwise, the BSE Telecom index tumbled the most — 1.91 per cent, followed by Bankex (down 1.58 per cent) and Consumer Durables (down 1.22 per cent). On the other hand, BSE Oil & Gas, Healthcare, Auto and Realty index gained 2.51 per cent, 1.91 per cent, 1.09 per cent and 0.82 per cent, respectively.
Jimeet Modi, chief executive officer, SAMCO Securities said, “Markets moved on the tunes of corporate results this week. The Government is nearing the process of passing GST in the monsoon session of the Parliament, which will usher in a new era for trade and commerce in the country. Hope we see the GST becoming a reality soon.”
In the BSE 500 index, companies such as Repco Home Finance, Dalmia Bharat, Bajaj Finserv, Bajaj Auto, UltraTech Cement, IOC, Max Financial Services, PVR, Marico and LIC Housing Finance hit their new all-time high during the week.
Rupee depreciated by 7 paise during the week to 67.14 on July 22 from 67.07 on July 15, according to data available with the Reserve Bank of India. In the past 10 trading sessions, FIIs invested Rs 6,854.25 crore in the Indian equity markets till July 22.
Market movement in coming week will depend on quarterly result announcement of some of companies like Zee entertainment, V-Guard Industries, YES Bank and Torrent Pharmaceuticals.