The benchmark indices gained more than 1% on Friday with the retail inflation for the month of January staying lower than estimates. The 50-unit CNX Nifty closed above the 8,800-mark. The BSE Sensex ended the week in the green after ending the last 2 weeks in the red.
On Friday, the foreign institutional investors (FIIs) bought shares worth $62.94 million worth of shares, while domestic institutional investors bought shares worth $15.45 million worth of shares, as per provisional data on the exchanges. In YTD, FIIs have bought shares worth $2.48 billion.
On Friday, the Sensex closed 1.01% or 289.83 points higher at 29,094.93 points, while the Nifty closed 1.08% or 93.95 points higher at 8,805.50 points. On Thursday, a post-market hours release by the ministry of statistics showed that consumer price index inflation (CPI) for January grew at 5.11% as against Bloomberg estimates of 5.5%.
The market rally was led by gains in State Bank of India (8%), M&M (5.1%) and TCS (3%). The SBI shares closed at R307.05 after the bank reported a net profit of R2,910 crore in Q3, a 30% rise on a y-o-y basis. M&M shares gained after the company beat the street estimates. The auto company posted a standalone net profit of R942 crore in Q3 as against Bloomberg estimates of R660 crore.
It was a positive week for the markets with the Sensex gaining 4 out of 5 sessions.
Globally, most Asian markets ended in the green. The Hang Seng (1.07%), Kospi (0.82%), Straits Times (0.21%), Shanghai Composite (0.98%), Jakarta Composite (0.58%) and Taiwan Taiex (0.35%) ended higher.
Back home, 24 of the 30 Sensex stocks ended higher. In the broader market, the breadth was moderate with 1,445 stocks traded on BSE advancing as against 1,448 declines. Most of the 12 sectoral indices ended in the green. BSE FMCG (1.7%), BSE Bankex (1.32%) and BSE Auto (1.08%) were among the major gainers.
The turnover in the NSE cash market stood at R21,008.88 crore, while the turnover in the F&O market stood at R2.39 lakh crore.