Markets weekly: Sensex plunges 75 points on weak macro-economic data; Hindalco, SBI, Adani Ports surge

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New Delhi | Published: August 20, 2016 8:00:13 AM

For the week ended August 19, 2016, the 30-share index declined 75.40 points, or 0.27 per cent, to 28,077

Tata Motors, India Cements among 77 stocks that hit fresh 52-week high on NSE todayIn the 50-share index, Hindalco, Cipla, Bank of Baroda, State Bank of India and Adani Ports advanced 8.44 per cent, 7.76 per cent, 7.55 per cent, 6.25 per cent and 5.71 per cent, respectively, in the past four trading session (Reuters)

Benchmark indices BSE Sensex and NSE Nifty ended the truncated week on a flat note with negative bias on account of dismal macro-economic data. For the week ended August 19, 2016, the 30-share index declined 75.40 points, or 0.27 per cent, to 28,077. The index was at 28152.40 on August 12. NSE Nifty 50 index also dropped marginally by 5.25 points, or 0.06 per cent to 8,672.15. Market sentiments dampened during the week after wholesale price index (WPI) inflation jumped to a near two-year high at 3.55 per cent as against 1.62 per cent month-on-month on the back of higher food inflation. Consumer Price Index (CPI) inflation also affected markets with retail inflation climbing up to nearly two-year high of 6.07 per cent in July.

In the 50-share index, Hindalco, Cipla, Bank of Baroda, State Bank of India and Adani Ports advanced 8.44 per cent, 7.76 per cent, 7.55 per cent, 6.25 per cent and 5.71 per cent, respectively, in the past four trading session. On the other hand, Bharti Infratel, Tata Consultancy Services, Wipro, HCL Technologies and Tech Mahindra dropped by 6.61 per cent, 4.96 per cent, 4.39 per cent, 4.24 per cent and 4.10 per cent, respectively.

Among the sectoral indices on BSE, Metal index jumped by 4.01 per cent, followed by Bankex (up 2.48 per cent), Power (up 2.21 per cent), Oil and Gas (up 2.11 per cent) and Healthcare index (up 1.50 per cent). Among the laggards, IT index, TECk index and Telecom index slipped by 3.72 per cent, 3.16 per cent and 0.69 per cent for the week ended August 19.

According to corporate database Ace Equity, foreign institutional investors (FIIs) stood net buyers in equity segment in the week with gross purchases of Rs 21,367.60 crore and gross sales of Rs 19,058.10 crore, leading to a net inflow of Rs 2,309.50 crore. FIIs also remained net buyers in the debt segment with inflow of Rs 564.73 crore. Indian rupee depreciated by 0.16 per cent, or 10 paise, to 66.93 on August 19 from 66.83 on August 12.

Next week, companies such as Hindustan Copper, Allcargo, HPCL, NTPC, Jindal Photo, Shree Renuka Sugars, Man Infra, Gillette, Jai Corp, Necter Lifesciences, Tata Power, Infinite Computer, SP Apparels, Nava Bharat Ventures, Finolex Industries, JBF Industries, P&G, Triveni Engineering, etc announce their financial results for the quarter ended June 30, 2016.

Other Asian markets closed the weekly trade mostly in positive terrain, buoyed by rise in crude prices.

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