The BSE Sensex and the NSE Nifty continued the bull run during the week and ended above the 29,000-mark and 8,800-level respectively, also marking the all-time highs for both the indices on sustained capital inflows amid positive global sentiments.
Positive investor sentiments over Indian stocks saw the foreign participants liberally buying out shares even glitch due to Chinese market slump amid authorities curb on speculative lending were sidelined as domestic market garnered a whopping 1,156.45 points during the week.
The week saw sentiments getting bolstered by IMF optimistic prediction of India’s expected growth rate till 2016, stellar corporate earning results and government budget date announcement leading to hope of more reforms, later further garnished by European Central Bank (ECB) higher-than- expected stimulus announcement of 60 billion Euro a month leading to massive rally across the globe.
ECBs stimulus announcement is dynamic for emerging India as it may result additional fund flows.
The benchmark S&P BSE Sensex rallied to a life time intra-day high of 29,408.73 before settling at record of 29,278.34, gaining 1,156.45 points or 4.11 per cent over preceding weekend close.
Similarly, the broad-based CNX Nifty NSE also surged 8,866.40-mark for the first time and ended new mile-stone high at 8,835.60, a gain of 321.80 points, or 3.78 per cent, over the last weekend close.
Barring FMCG segment, healthy buying was witnessed in sectors of Capital Goods, Metals, Banks, HealthCare, Auto, Consumer durables, Realty, Tech, Power, IT and Oil&Gas well supported by shares from MidCap and SmallCap companies.
Jignesh Chaudhary, Head of Research, Veracity Broking Services said, “The Indian equity markets were breaking record during the entire week. They continued to grow in all the trading sessions, they managed to close in green daily.
“The markets were also supported by some of the global rallies and some huge buying positions of FII’s in the Indian Equity Markets,” he said.
On the last trading day, the market opened with a gap up and which was after the launch of European Central Bank`s landmark bond buying stimulus programme. This created a global rally and all the major indices were part of this surge. The stcok markets will remain closed on Monday, January 26, on account of Republic Day.
The economic calendar for the coming week would be active for the US economy as there are some important data releases lined up for the coming week.
Foreign portfolio investors (FPIs) continued their buying spree during the week and invested net Rs 6,548.69 crore as per the SEBI’s record including the provision figure of January 23.
Overall, 25 scrips out of the 30-share Sensex pack ended higher while remaining three finished lower.
Major gainers were Bharti Airtel (12.01 pct), Tata Motors (11.85 pct), Axis Bank (9.73 pct), Sun Phamra (8.58 pct), Wipro (8.33 pct), HDFC (8.15 pct), Tata Power (7.70 pct), Larsen (7.10 pct), SSLT (6.30 pct), Tata Steel (5.16 pct), Infoys (4.73 pct), Icici Bank (4.68 pct), Hindalco (4.55 pct) M&M (4.33 pct), Cipla (4.29 pct), Coal India (4.23 pct), HDFC Bank (4.13 pct), SBI (3.72 pct) and Reliance Ind (2.07 pct).
Among the S&P BSE sectoral indices, CG rose by 5.04 pct followed by Metal 4.55 pct, Bankex 4.37 pct, HC 4.11 pct, Auto 4.04 pct, CD 3.48 pct, Realty 3.28 pct, Teck 3.23 pct, Power 2.59 pct, IT 2.16 pct, PSU 1.69 pct and Oil&Gas 1.50 pct.
The dollex-30, dollex 100 and dollex 200 also rose by 4.91 pct, 4.34 pct and 4.01 pct respectively.
The total turnover at BSE and NSE rose further to Rs Rs 22,149.42 crs and Rs 94,845.96 crs respectively from Rs 18,662.50 crores and Rs 88,774.58 crores last week.