Market This week: Indian benchmark indices closed lower for the second consecutive week due to mixed corporate earnings, persistent FII selling and uncertainty over tariff talks with the US. In the week ending November 07, BSE Sensex closed at 83,216.28 with a decline of 722.43 points or 0.86 percent. Whereas Nifty closed at the level of 25,492.30 with a decline of 229.8 points or 0.89 percent.
Last week, BSE’s largecap index closed down by 1 percent. A decline was seen in Adani Green Energy, Hindalco Industries, Indian Hotels Company, Grasim Industries, Power Finance Corporation, Power Grid Corporation of India, Mankind Pharma. On the other hand, a growth of 5-10 percent was seen in Indus Towers, Vodafone Idea, Shriram Finance, Dabur India, Mahindra and Mahindra, Britannia Industries.
BSE midcap index fell 0.6 percent. Blue Star, JK Cement, Delhivery, Kaynes Technology India, Clean Science & Technology, Ola Electric Mobility saw a decline while 3M India, Hitachi Energy India, L&T Finance, Astral, Phoenix Mills, PI Industries saw a gain of 5-10 percent.
Last week, BSE smallcap index fell 1.5 percent. A decline of 15-46 percent was seen in Worth Investment & Trading, Fischer Medical Ventures, Stallion India Fluorochemicals, Reliance Infrastructure, Bliss GVS Pharma, Utkarsh Small Finance Bank, VL E-Governance and IT Solutions, Reliance Power, Punjab Chemicals & Crop Protection.
On the other hand, Thangamayil Jewellery, LG Balakrishnan and Brothers, Interarch Building Solutions, CCL Products India, BLS E-Services, ASM Technologies, Raghav Productivity Enhancers, IRIS Business Services, Privi Specialty Chemicals, Orchid Pharma, Dredging Corporation India, Redington saw a rise of 15-56 percent.
If we look at the sectoral front, last week there was a decline of 3.2 percent in Nifty Media Index, 2 percent in Nifty Defense Index, 1.7 percent in Nifty Metal Index and 1.6 percent in Nifty IT Index. While Nifty PSU Bank index closed with a gain of 2 percent.
Last week, the biggest decline was seen in the market cap of Bharti Airtel. After that came Tata Consultancy Services, Maruti Suzuki India, Larsen & Toubro. On the other hand, there was an increase in the market cap of Mahindra and Mahindra, State Bank of India, Bajaj Finance.
Foreign institutional investors (FIIs) sold equities worth Rs 1,632.66 crore, while domestic institutional investors (DIIs) bought equities worth Rs 16,677.94 crore.
The Indian rupee was trading near a record low of 88.80 during the week. However, it closed 11 paise higher at 88.66 per dollar on November 7 compared to the closing level of 88.77 on October 31.