Weekly Review: Markets bounce-back for the week, gains 530 points

Mumbai: Stocks finished higher for the week, snapping its previous two consecutive losses, the benchmark Sensex rallied 530.50 to close 31,814.22, while the broader Nifty regained the crucial 9,900-level to finish at 9,979.70 as all indices regained the lost sparkle.

The holiday-shortened week saw the market winning on positive vibes kindled by RBI policy outcome, positive macroeconomic datas release and firmness in global stocks.

As broadley expected, the RBI left its key interest rates unchanged, while slashing the statutory liquidity ratio (SLR) by 50 basis points to spur banks into lending more and along with resolution of recapitalisation of Banks termed tagged the market sentiment as unoffending and easy going.

Investors confidence restored with expanding manufacturing PMI and recovery in services sector PMI trends, it was supported by solid core sector output data and gains in rupee.

Stocks specifics like, top automakers reporting strong monthly sales, rise in global commodity prices along with key heavyweight Tata Steel unveiling strong quarterly production figures also led the market gains.

The weekend also saw the small and midcap stocks outperforming the key indices on expectations from GST council meet to get reduction in GST rates & faster refund.

After opening at 31,537.81, the Sensex traded in a range of 31,844.28 and 31,440.48 before ending the week at 31,814.22, showing a gain of 530.50, or 1.70 percent.

The Sensex lost 988.89 pts or 3.06 pct in previous two weeks trade.

The Nifty started the week at 9,893.30 and hovered between 9,989.35 and 9,831.05. The index ended the week at 9,979.70, rising 191.10 points or 1.95 percent.

Across the spectrum buying was witnessed, led by Metal, Oil&Gas, HealthCare, FMCG, Consumer Durables, IPOs, PSUs, Realty, Auto, IT, Power, Teck, Capital Goods and Banks.

The broader midcap and smallcap company shares also saw substantial gains. Bombay Stock Exchange (BSE) Market remained closed on Monday 2nd, October on account of “Mahatma Gandhi Jayanti”.

Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold shares worth Rs 2,668.46 crore during the week, as per Sebi’s record including the provisional figure of October 06.

The Mid-Cap index gained 2.62 percent to 15,840.15 and the Small-Cap index advanced 3.19 percent to 16,629.23. Both these indices outperformed the Sensex.

Among sectoral and industry indices, Metal climbed by 4.41 percent followed by Oil&Gas 4.20 percent, Healthcare 3.64 percent, FMCG 2.90 percent, Consumer Durables 2.90 percent, IPO 2.82 percent, PSU 2.40 percent, Realty 2.01 percent, Auto 1.67 percent, IT 1.63 percent, Power 1.38 percent, Teck 1.13 percent, Capital Goods 0.82 percent and Bankex 0.68 percent.

Among the 31-share Sensex pack, 24 stocks rose and remaining 7 stocks fell during the week.

Index gainers were,TataMtrDvr climbed by 7.67 percent, Reliance 6.99 percent, Tata Steel 6.20 percent, Tata Motors 5.72 percent, SunPharma 5.41 percent, NTPC 4.90 percent, M&M 3.91 percent,Asian Paint 3.75 percent,Kotak Bank 3.67 percent, Adaniports 3.27 percent, ITC 3.02 percent, Lupin 2.87 percent, Infosys 2.30 percent, Hindunilver 2.97 percent, Coal India 2.16 percent, Dr Reddy 2.08 percent and Wipro 1.89 percent.

While, Powergrid dropped by 3.33 percent followed by HeroMotoCo 2.05 percent, BhartiAirtel 1.27 percent, Axis Bank 1.09 percent and Maruti 0.82 percent.

The total turnover during the week on BSE fell to Rs 13,317.73 crs as against last weekend’s level of Rs 19,363.96 crores and NSE also fell to 1,02,004.46 compared to Rs 1,50,308.52 crs previously.