Mkts register to new life highs for the week, gains 329 pts

13 May 2017

The benchmark Sensex zoomed to mark new life highs, while gaining 329.35 points to conclude 30,188.15 for the week, while broader Nifty registered above the key 9,400-level.
Investors optimism level increased during the weeks trade, racked up by India Meteorological Department (IMD) upgrading the prospect of normal monsoon due to ease in El Nino effect.
The IMD on Tuesday announced the year monsoon could be 'normal' and bring 100 percent rainfall instead of 96 percent as predicted earlier, raising prospects of higher farm and economic growth.
While, good corporate results, government’s reforms and return of FIIs seller to buyer mode flavoured the market sentiment.
The domestic investors sidelined the global nervousness after abrupt firing of FBI James Comey by Donald Trump, raising questions about his ability to build enough consensus to implement market friendly policies.
The key indices surged on hectic shortcovering spell in rural consumption stocks including Fertiliser and FMCG counters, though weekend sentiment turned sour due to profit-booking amid caution on government release of slew of of macro-datas after the market hours.
After opening the week at 29,915.12, the Sensex rallied to to mark all-time new peak at 30,366.43 and low of 29,877.41, it closed the week at 30,188.15, showing a gain of 329.35 points or 1.10 percent. (it also registered new closing peak of 30,250.98 on May 11).
The Nifty started the week over 9311.45 and zoomed to register life time highs at 9,450.65 before settling the week at 9,400.90, showing a rise of 115.60, or 1.24 percent. (NSE also marked new closing peak at 9,422.40 on May11).
Buying witnessed across the spectrum led by Realty, Auto, Teck, IT, Metal, capital Goods, HealthCare, Consumer Durables, FMCG, Power, Oil&Gas and banking.
The secondline shares of smallcap and midcap also witnessed substantial buying activity.
Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) bought shares worth Rs 3,060.25 crore during the week, as per Sebi's record including the provisional figure of May 12.
In the broader market, The BSE Mid-Cap index rose 135.97 points or 0.92 percent to settle at 14,854.45, underperforming the Sensex. The BSE Small-Cap index advanced 172.99 points or 1.13 percent to settle at 15,528.83, outperforming the Sensex.
Among sectoral and industry indices, realty rose by 5.71 percent followed by auto 3.26 percent, teck 3.26 percent, IT 2.80 percent, metal 2.03 percent, capital goods 1.41 percent, healthcare 1.31 percent, consumer durables 1.26 percent, FMCG 1.10 percent, power 0.67 percent, oil&gas 0.52 percent and bankex 0.15 percent
Among the 30-share Sensex pack, 21 stocks rose and remaining 9 stocks gained during the week.
Bharti Airtel jumped 6.26 percent. The company's consolidated net profit fell 69.22 percent to Rs 470.60 crore on 12.12 percent decline in net sales to Rs 21934.60 crore in Q4 March 2017 over Q4 March 2016.
Hero MotoCorp surged 5.38 percent. The company's net profit fell 13.9 percent to Rs 717.75 crore on 7.9 percent decline in net sales to Rs 6915.20 crore in Q4 March 2017 over Q4 March 2016.
It was followed by M&M 3.86 percent, Bajaj Auto 3.63 percent, Sun Pharma 3.62 percent, Infosys 3.48 percent, Cipla 3.28 percent and HUL 2.84 percent.
Gail lost by 2.00 percent. The bank announced that it has retained the marginal cost of funds based lending rates (MCLR) at the same levels across tenors.
It was followed by Coal India 3.64 percent, ICICI Bank 3.21 percent, ONGC 3.05 percent, Tata Steel 2.16 percent, SBI 2.10 percent, Tata Motors 1.98 percent, HUL 1.29 percent and Dr Reddy 0.96 percent.
However, Gail lost by 2.00 percent followed by Asian Paints 1.21 percent, Power grid 1.03 percent, ITC 0.99 percent, Coal India 0.99 percent and NTPC 0.81 percent.
The total turnover during the week on BSE and NSE rose to Rs 18,690.45 crore and Rs 1,20,528.88 crore, respectively, as against last weekend's level of Rs 17,292.52 crores and Rs 1,07,803.40 crores. (PTI)