The Indian stock market had a mixed week. FIIs sold, DIIs bought, and the rupee strengthened. Let's dive into the details of what happened in the market!
FIIs vs DIIs
Foreign Institutional Investors (FIIs) continued selling equities, totaling Rs 10,172.64 crore in the seventh week. However, Domestic Institutional Investors (DIIs) remained bullish, buying equities worth Rs 18,999.76 crore for the 17th week. This divergence shaped the market's overall performance, showcasing different investor strategies. The market was certainly buzzing!
Index Performances
The BSE Large-cap Index rose 1%, driven by companies like Apollo Hospitals and Cipla, while others faced losses. The BSE Small-cap index ended with a 0.4% gain, led by Yatra Online and others, while the Mid-cap index rose nearly 1%, with Alkem Laboratories and Paytm leading the charge. The Sensex and Nifty50 also closed higher.
Rupee's Resilience
The Indian rupee showed strength, breaking its five-week losing streak against the US dollar. It appreciated by 10 paise, closing at 87.56 per dollar on August 14, a notable improvement from the 87.66 closing on August 8. During the week, it fluctuated between 87.72 and 87.39. It brought some relief!
Sectoral Spotlight
Nifty Healthcare and Pharma indices surged by 3.5% each, and Nifty Auto rose 2.7%. The Nifty PSU Bank index also saw a gain of 2%. However, Nifty Consumer Durables and FMCG indices shed 0.5% each. The diverse performance highlights the varied fortunes of different sectors.
Market Movers & Losers
Reliance Industries added the most in market value, while ICICI Bank and Bajaj Finance lost the most. The week's performance reflected the dynamics within the market. Overall the Sensex added 739.87 points or 0.92% to close at 80,597.66, and Nifty50 rose 268 points or 1.10% to end at 24,631.30, providing the much needed impetus.
