Despite tremendous selling pressure and volatility, the bulls reigned on Monday. Infosys, BHEL, ITC, Tata Motors, HLL and TCS kept the indices from falling. FIIs were net buyers to the tune of Rs 172.7 crore but mutual funds were net sellers to the tune of Rs 54.23 crore. The Nifty closed at 4,102.45 and the Sensex at 14,209.24.
Despite the rise, Monday recorded the lowest turnover of the week. It was Rs 3,719.01 crore on the BSE and Rs 7,574.18 crore on the NSE.
On Tuesday, the markets slipped to close at 4,066.10 (Nifty) and 14,041.21 (Sensex). This was primarily due to profit booking in Dr Reddy's Lab, SBI, Tata Steel, Tata Motors, HLL, RIL and Infosys. SBI slipped after the company declared its third quarter result with net profit down at 9.5 per cent. Cement stocks slipped heavily on the government's decision to cut import rates.
Other indices BSE IT, BSE Health Care, BE FMCG, BSE PSU, BSE Bankex too slumped. BSE Metal rose.
Despite the fall, FIIs were net buyers to the tune of Rs 319.8 crore while mutual funds sold heavily. They were net sellers to the tune of Rs 537.14 crore.
The markets picked up on Wednesday. The Nifty closed at 4,089.90 and the Sensex at 14110.46. FIIs continued to be net buyers but to lesser amount (Rs 269.1 crore) than yesterday. Mutual funds were net sellers to the tune of Rs 351.07 crore.
Bank of Baroda and Corporation Bank gained after declaring their results. Metal stocks were in the limelight as prices firmed on the LME.
On Thursday, the F&O expiry date, the markets continued to rise. The turnover was Rs 4,744.35 crore on the BSE and Rs 11,465.61 crore on the NSE.
The Nifty closed at 4,147.70 and the Sensex at 14282.72. FIIs were net purchasers to the tune of Rs 172.7 crore.
This week, the CNX Mid Cap followed the same path as the two broad indices. It slumped on Tuesday to 5211.6 but picked up on Wednesday and Thursday to close the week at 5316.35.
The major gainers this week were Tata Steel (8.9072 per cent) and BHEL (7.8901 per cent). The biggest losers were Gujarat Ambuja (down 7 per cent), Dr Reddy's (down 6 per cent ) and ACC (down 5.85 per cent).
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