Markets extend weekly win for 2018, Sensex up by 97 points

Markets extend weekly win for 2018, Sensex up by 97 points
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Mumbai: Market continued its weekly winning streak for the fifth consecutive session, to mark record closing highs, while reclaiming the psychological 34,000-mark at 34,153.85. The broader Nifty also concluded with new historic closing highs at 10,558.85.

The market began 2018 on subdued note and traded choppy most of the week, it rallied towards the close of the week. Lingering concerns over fiscal slippages and rising crude, while caution ahead corporate results restricted the stock momentum for initial three session.

However, domestic funds and FIIs got into act after the government moved forward the bank recapitalisation programme, improving December Service PMI data along with bullish global cues on positive US jobs data stoked optimism, as key indices rallied to record highs.

The Sensex started the week higher at 34,059.99 and hovered between marking new highs at 34,188.85 and low of 33,703.37 before settling the week new record highs at 34,153.85, showing a modest gain of 97.02, or 0.28 per cent.

(The Sensex garnered 1,584.69 points or 4.82 per cent in during previous four week sessions). The Nifty also resumed the week up at 10,531.70 and moved between fresh highs at 10,566.10 and low of 10,404.65 to end the week at record closing at 10,558.85, showing a gain of 28.15 points, or 0.27 per cent.

Highlight of the week was Metal, Consumer Durables, Private banks along with broader midcap and smallcap shares hogged the limelight, while Auto counters lost for the week, despite the Auto industry reporting a positive sales data for December.

Buying was witnessed in Capital Goods, IPOs, Power, PSUs, HealthCare, Realty, Banks, and FMCG counters. Oil and Gas, Auto, IT and Teck counters saw profit- booking.

Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) bought shares worth Rs 1,666.84 crore during the week, as per Sebi’s record including the provisional figure of January 05,2018.

The S&P BSE Mid-Cap index advanced 247.63 points or 1.39 per cent to settle at 18,070.03 and the S&P BSE Small-Cap index rose 474.20 points or 2.47 per cent to end at 19,704.92. Both these indices outperformed the Sensex.

Among sectoral and industry indices, Metal climbed by 4.76 per cent followed by consumer durables 4.66 per cent, capital goods 3.93 per cent, IPO 2.89 per cent, Power 2.00 per cent, PSU 0.80 per cent, healthcare 0.75 per cent, realty 0.43 per cent and bankex 0.28 per cent.

However, Oil and gas fell by 0.76 per cent, auto 0.75 per cent, IT 0.73 per cent and Teck 0.17 per cent. Among the 31-share Sensex pack, 18 stocks rose and remaining 13 stocks fell during the week. Major Index gainers include, SunPharma rose by 9.10 per cent followed by Yes bank 5.71 per cent, Tata Steel 5.17 per cent, Larsen 4.58 per cent, Adaniports 4.42 per cent, TataMtr Dvr 3.23 per cent, IndusIndBank 3.09 per cent, AsianPaint 2.23 per cent, BhartiAirtel 1.89 per cent, ONGC 1.57 per cent, HDFC 0.91 per cent and M&M 0.70 per cent.

However, Maruti dropped 3.06 percent, Infosys 2.62 per cent, HeroMotoco 1.65 per cent, BajajAuto 1.43 per cent, Wipro 1.16 per cent, Hindunilever 0.95 per cent, SBIN 0.89 per cent, Kotak Bank 0.60 per cent and TCS 0.59 per cent.

The total turnover during the week on BSE rose to Rs 25,394.12 crores as against last weekend’s level of Rs 21,021.39 crores and NSE moved up to 1,68,820.04 crores compared to Rs 1,37,358.30 crores previously.

PTI