Market Ends The Week Flat Amid High Volatility; Rupee Recovers, IT Stocks Outshine

The Indian market started the week gone by on a negative note amid rising concern over Omicron variant of coronavirus. Later in the week, in-line with the global markets, the Indian benchmark indices also saw recovery, but remained rangebound and ended the week on flat note amid continuous FII selling.

In the week gone by, BSE Sensex was up 112.57 points (0.19 percent) to finish at 57,124.31, while the Nifty50 was up 18.55 points (0.10 percent) to close at 17,003.75 levels.

The BSE Large-cap Index ended flat. Gainers were HCL Technologies, Godrej Consumer Products, Cipla, Tech Mahindra, Wipro, UPL and Aurobindo Pharma. Losers were Adani Total Gas, Bank Of Baroda, Bandhan Bank and NTPC.

BSE Mid-cap index fell 0.75 percent. Losers included Shriram Transport Finance Corporation, Indian Hotels Company, AU Small Finance Bank, Oil India, Oracle Financial Services Software, Bharat Heavy Electricals, Federal Bank and Sun TV Network. However, gainers were Gland Pharma, JSW Energy, Godrej Industries, GMR Infrastructure, 3M India, Glenmark Pharma and Crompton Greaves Consumer Electrical.

The BSE Small-cap index fell 0.3 percent. PTL Enterprises, SHAREINDIA, Urja Global, Medicamen Biotech, Steel Exchange India, Everest Kanto Cylinder and Prozone Intu Properties surged 22-54 percent, however, Paisalo Digital, Suvidhaa Infoserve, Tata Teleservices (Maharashtra), SVP Global Ventures, Best Agrolife and Barbeque Nation Hospitality lost over 10 percent each.

On the BSE Sensex, Tata Consultancy Services added the most in terms of market value, followed HCL Technologies, Reliance Industries and Infosys in the last week. On the other hand, HDFC Bank, Housing Development Finance Corporation and State Bank of India lost the most in term of market value. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

On the sectoral front, BSE Information Technology index rose 2.7 percent and FMCG and Healthcare indices up 1 percent each. On the other hand, BSE Oil & Gas, Power and Bankex indices lost over 1 percent each.

Foreign institutional investors (FIIs) continued to remain net sellers, as they sold equities worth Rs 6,589.03 crore, while domestic institutional investors (DIIs) bought equities worth of Rs 6,915.56 in this week. However, in the month so for, FIIs sold equities worth of Rs 33,276.49 crore, and DIIs bought equities worth of Rs 26,957.50 crore.

The Indian rupee recovered in the last week and ended 107 paise higher at 75.01 on December 24 against its December 17 closing of 76.08.