BSE Sensex triumphs with 28K milestone, NSE Nifty record high

Encouraging macro datas and FIIs inflows helped Sensex to finally capture the milestone..

Encouraging macro datas and FIIs inflows helped BSE Sensex to finally capture the milestone of 28K-level and Nifty to hit fresh record highs during the week.

The feel good factors like fall in CPI and WPI inflation along with rebound in Industrial production growth bolstered the market sentiment amid hope of RBI opting for early rate cut and real growth fundamentals.

The week also saw volatility and bouts of profit- booking at higher levels as government hiked excise duty on petrol and diesel prices bringing back fears of inflationary pressure and continuation of RBIs cautious policy.

Sharp decline in global crude oil prices also lifted the bourses.

Good buying was seen in FMCG, Auto, Realty, Banking, Consumer Durables, IT, Metal and Teck sectors along with shares of Mid-Cap and Small-cap companies.

Profit-booking at higher levels were witnessed in Oil & Gas, Power, Capital Goods and HealthCare segments.

The Sensex resumed higher at 27,919.45 and rallied between lifetime high of 28,126.48 and a low of 27,764.75 before closing the week at 28,046.66, showing a smart gain of 178.03 points or 0.64 pct.

The CNX 50-share Nifty also gained 52.90 points or 0.63 per cent to conclude at 8,389.90, after crossing the psychological 8,400 level during the week.

The Sensex has gained by 1,938.13 points or 7.42 per cent in the last four weeks.

Foreign portfolio investors (FPIs) continued their buying spree during the week by investing a net Rs 2,772.62 crore as per the SEBI data including provisional figure of November 14.

Eighteen stocks out of the Sensex pack ended higher while 12 others closed lower.

Major gainers from the Sensex were Bajaj Auto (4.28 pct), ITC (3.53 pct), Coal India (3.42 pct), HDFC Bank (3.37 pct), HDFC (2.27 pct), Hero Motocorp (2.12 pct), Wipro (2.01 pct), Maruti (1.74 pct), SBI (1.68 pct), Axis Bank (1.67 pct), Tata Steel (1.47 pct), TCS (1.26 pct) and Dr Reddy’s Lab (1.06 pct).

However, Cipla dropped by 6.42 pct followed by ONGC 3.89 pct, Tata Power 2.68 pct, Larsen 1.91 pct, Reliance Ind 1.20 pct and BHEL 1.16 pct.
Among the S&P BSE sectoral indices, FMCG rose by 2.95 pct followed by Auto 1.75 pct, Realty 1.64 pct and Bankex 1.33 pct while Oil&Gas fell by 1.95 pct, Power 0.52 pct and CG 0.38 pct.

Small-cap and Midcap indices rose by 0.90 pct and 1.55 pct on good demand from retail investors.

The total turnover at BSE and NSE rose to Rs 17,787.23 crs and Rs 86,255.44 crore respectively from the last weekend’s level of to Rs 11,865.96 crs and Rs 59,859.41 crore.

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