Market continues its winning streak for the fourth consecutive week with support from FIIs

In the week concluding on November 24, the Indian benchmark indices experienced marginal gains, extending their winning streak for the fourth consecutive week. The upward trend was attributed to increased buying from Foreign Institutional Investors (FIIs), a decline in crude oil prices, lower bond yields, and the likelihood of the US Federal Reserve refraining from a rate hike in the future.

During this week, the BSE Sensex registered a 0.26 percent gain, adding 175.31 points to reach 65,970.04, while the Nifty50 rose by 0.31 percent, closing at 19,794.7 with a gain of 62.9 points. The BSE Mid-cap Index saw a 0.7 percent increase, led by New India Assurance Company, CG Power and Industrial Solutions, Tube Investments of India, SJVN, Gland Pharma, and Bharat Heavy Electricals. Conversely, Vodafone Idea, Solar Industries India, Rajesh Exports, Indian Bank, and Oil India were among the losers.

The BSE Small-cap Index added 0.5 percent, with notable gains 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. On the downside, Apollo Micro Systems, SEPC, Repco Home Finance, RattanIndia Power, Spandana Sphoorty Financial, Rategain Travel Technologies, Reliance Power, and Jindal Saw faced losses ranging from 8 to 14 percent.

The BSE Large-cap Index remained flat, with gainers including Life Insurance Corporation of India, Adani Wilmar, Hero MotoCorp, Hindustan Aeronautics, Bajaj Auto, and Bharat Petroleum Corporation. Zomato, Info Edge India, Cipla, Bharat Electronics, and Oil and Natural Gas Corporation were among the losers.

In terms of market value, Reliance Industries saw the highest increase, followed by HDFC Bank, Bharti Airtel, and Titan Company. Conversely, Tata Consultancy Services, Bajaj Finance, and Larsen & Toubro experienced the most significant declines in market capitalization.

Among sectors, the Nifty Realty index rose by 1.5 percent, while the Nifty Metal, Nifty Oil & Gas, and Pharma indices increased by 1 percent each. On the flip side, the Nifty PSU Bank index decreased by 1.7 percent, and the Nifty Information Technology index dropped by 0.4 percent.

Domestic Institutional Investors (DIIs) continued their buying trend, acquiring equities worth Rs 2,112.38 crore during the week. Foreign Institutional Investors (FIIs) also participated, purchasing equities worth Rs 1,472.87 crore. In November, FIIs sold equities amounting to Rs 5,101.72 crore, while DIIs bought equities worth Rs 9,814.84 crore.

Additionally, the Indian rupee concluded the week on a lower note against the US dollar, losing 10 paise and finishing at 83.37 compared to the closing of 83.27 on November 17.