- The BSE Small-cap and Mid-cap indices added 0.5% and 0.7%, respectively.
- Over the week, there was a positive bias in the range that domestic indices traded in.
- the IT industry responded to weak global data with muted performance.
With slight gains at the end of the week, the Indian market continued its winning streak for the fourth week in a row. The Nifty50 finished at 19,794.7, up 62.9 points, or 0.31 percent, while the BSE Sensex gained 0.26 percent, or 175.31 points, to close at 65,970.04.
The BSE Small-cap and Mid-cap indices added 0.5% and 0.7%, respectively, to the main indices’ performance, which was better than that of the main indices. Over the week, there was a positive bias in the range that domestic indices traded in.
Small caps
Profit booking occurred in the Indian market as investors turned their focus to the primary market, which was indicated by a series of initial public offerings (IPOs) planned for the week.
Thanks to a robust increase in demand for holidays, industries like consumer durables and real estate led the way. On the other hand, the IT industry responded to weak global data with muted performance. This week, the banking index showed resilience in the face of the RBI’s scrutiny of unsecured lending by NBFCs.
Foreign institutional investors (FIIs) and domestic institutional investors (DIIs) both purchased stocks this week totaling Rs 1,472.87 crore and Rs 2,112.38 crore, respectively.
With contributions of more than 20% from Talbros Automotive Components, Man Infraconstruction, 3i Infotech, Sequent Scientific, Syncom Formulations, Rattanindia Enterprises, 63 Moons Technologies, Prataap Snacks, Summit Securities, Nahar Spinning Mills, and Goldiam International, the BSE Small-cap index increased by 0.5%.
On the negative side, upward momentum should pick up over the next few trading sessions until the 19600 – 19630 zone is maintained. This could push the Nifty towards the 19900 – 19930 zone.
