With unsettled global markets, FIIs turning net buyers, and a decline in the current account deficit, Indian equity indices achieved strong gains in the abbreviated week that concluded on March 28 and moved closer to their record heights during the final session of the financial year 2024.
This week, the Nifty50 index rose 260 points, or 1%, to conclude at 22,326.90, while the BSE Sensex gained 819.41, or 1%, to end at 73,651.35.
Max Healthcare Institute, Supreme Industries, Aurobindo Pharma, Indian Bank, Indian Hotels Company, and Max Financial Services helped the BSE Mid-cap Index gain 1.3 percent. Rajesh Exports, Solar Industries India, Schaeffler India, Delhivery, ICICI Securities, and IDFC First Bank were the losers.
Interglobe Aviation, Siemens, Indu Towers, Bajaj Finance, Info Edge India, ABB India, and Cholamandalam Investment and Finance Company led the 1.3 percent increase in the BSE Large-cap Index. Adani Wilmar, SBI Cards & Payment Services, UPL, and Tata Consumer Products were among the losses.
26 stocks—including Sanghvi Movers, Bharat Bijlee, Technocraft Industries (India), Transformers and Rectifiers India, Manorama Industries, Aegis Logistics, Angel One, and Schneider Electric Infrastructure—gave double digit returns, contributing to the BSE Small-cap index’s approximately 1% increase. But the percentage declines were between 10 and 14 percent for EKI Energy Services, Sanmit Infra, Primo Chemicals, Jindal Poly Films, Dhani Services, and OnMobile Global.
The Nifty Realty index increased by 5%, the Nifty Oil & Gas index increased by 2%, the Nifty Auto and Healthcare indices increased by 1.7 percent each, the Nifty Media index decreased by 3%, and the Nifty Information Technology index down by 0.8 percent.
Reliance Industries added the most to the market value, followed by NTPC, Bajaj Finance, Larsen & Toubro, and Bajaj Finance. However, the companies that lost the highest market capitalization were HCL Technologies, Infosys, and Tata Consultancy Services. (Disclaimer: Network18 is the parent company of MoneyControl. Reliance Industries is the only shareholder of Independent Media Trust, which controls Network 18.)
This week, domestic institutional investors (DIIs) continued to support the market by purchasing stocks worth Rs 8,913.49 crore, while foreign institutional investors (FIIs) turned net buyers by purchasing stocks worth Rs 2368.76 crore.
In the week ending March 28, the Indian rupee closed unchanged at 83.40 versus the US dollar, down from its closing value of 83.42 on March 22.
