Sensex marks record rise for 3rd straight week, gain 313


Mumbai: The benchmark Sensex scaled fresh record highs last week, with the benchmark BSE Sensex touching the 38,000 level for the first time, it gained 313.07 points to finish at 37,869.23, while the broader Nifty closed at 11,429.50, following sustained capital inflow and healthy earnings boosted the sentiment.

Global cues, however, were mixed last week as investors weighed the continuing trade dispute between the US and China against the backdrop of strong corporate earnings and a healthy economic performance.

Trading for the week began on positive note. Domestic stocks logged modest gains in a steady session of trade on buying demand in index pivotals on Monday. The barometer index, the S&P BSE Sensex, rose 135.73 points or 0.36 per cent at 37,691.89.

The Nifty 50 index rose 26.30 points or 0.23 per cent at 11,387.10. Key equity indices ended the volatile session almost flat on Tuesday, retreating from record highs hit earlier in the day.

The barometer index, the S&P BSE Sensex, fell 26.09 points or 0.07 per cent to settle at 37,665.80. The Nifty 50 index rose 2.35 points or 0.02 per cent to settle at 11,389.45. Key equity indices logged modest gains on Wednesday, with the Sensex and the Nifty, both, scaling record highs in intraday as well as on closing basis.

The barometer index, the S&P BSE Sensex, gained 221.76 points or 0.59 per cent to settle at 37,887.56. The Nifty 50 index gained 60.55 points or 0.53 per cent to settle at 11,450. Key equity indices rose to fresh highs on Thursday, with the benchmark BSE Sensex crossing the 38,000 level for the first time, driven by select banks stocks.

The barometer index, the S&P BSE Sensex, rose 136.81 points or 0.36 per cent to settle at 38,024.37. The Nifty 50 index rose 20.70 points or 0.18 per cent to settle at 11,470.70. The Sensex ended above the psychologically important 38,000 mark. Key benchmark indices registered losses on Friday.

The barometer index, the S&P BSE Sensex, fell 155.14 points or 0.41 per cent to settle at 37,869.23. The Nifty 50 index fell 41.20 points or 0.36 per cent to settle at 11,429.50. The Sensex settled below the psychological 38,000 level after falling below that level in early trade.

The BSE Sensex started the week strong at 37,714.70 and climbed to life highs at 38,076.23 and low of 37,586.88, the index closed the week at 37,869.23, showing a gain of 313.07 or 0.83 per cent.

(The Sensex garnered 1,059.79 points or 2.89 per cent during past two week sessions). The Nifty also resumed the week higher at 11,401.50 and traded between all time highs at 11,495.20 and low of 11,359.70, the index finally ended 11,429.50, a gain of 68.70 points, or 0.60 per cent. Buying for the week was led by Consumer Durable, Bank, Metal, Realty, Teck, IT, Auto and FMCG, while Healthcare, IPO, Capital Goods, Oil and Gas, PSU and Power, witnessed profit-booking.

The second-line shares of S&P BSE Mid-Cap index rose 3.89 points or 0.02 per cent to settle at 16,210.78. The BSE Small-Cap index fell 49.32 points or 0.29 per cent to settle at 16784.20. Both these indices underperformed the Sensex.

Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) bought shares worth Rs 1,380.35 crore during the week, as per Sebi's record including the provisional figure of August 10, 2018. Among sectoral and industry indices, consumer durables rose by 2.69 per cent, bankex 2.15 per cent, metal 1.67 per cent, realty 1.08 per cent, teck 0.64 per cent, IT 0.54 per cent, auto 0.47 per cent and FMCG 0.24 per cent, while healthcare fell by 2.87 per cent, IPO 2.80 per cent, capital goods 1.18 per cent, oil and gas 0.73 per cent, PSU 0.30 per cent and power 0.17 per cent.

Among the 31-share Sensex pack, 18 stocks rose and remaining 13 stocks fell during the week. ICICI Bank was the top Sensex gainer last week. The stock rose 7.66 per cent after the bank issued clarification to the exchanges.

With reference to the media report stating, 'ICICI Bank masked bad loans through change in accounting policy', the bank clarified that its accounts are audited by reputed statutory auditors whose audit report and audit opinion form part of the bank's annual report.

It was followed by Axis Bank 7.19 per cent, Tata Steel 3.68 per cent, Yes Bank 2.83 per cent, M&M 2.76 per cent, Hero Motoco 2.40 per cent, Reliance 2.32 per cent, SBI 1.96 per cent, NTPC 1.63 per cent and Infosys 1.55 per cent. While, Drug major Sun Pharmaceutical Industries fell by 5.34 per cent.

Taro Pharmaceutical Industries, the US subsidiary of Sun Pharma, reported a 23.5 per cent year-on-year growth in first quarter net income to USD 67.3 million despite weak revenue and operational performance, and higher tax cost.

The growth was largely attributed to foreign exchange gain and finance income. Profit in the year-ago period stood at USD 54.5 million. Net sales during the quarter fell 4.2 per cent to USD 154.6 million compared to USD 161.3 million in same period last fiscal.

It was followed by Adani Ports 5.33 per cent, Tata Motors 3.29 per cent, Bajaj Auto 2.13 per cent, L&T 2.05 per cent, Tata Motors DVR 1.82 per cent, Indus Ind Bank 1.73 per cent and Kotak Bank 1.71 per cent.

The total turnover during the week on BSE rose to Rs 17,811.53 crs as against last weekend's level of Rs 17,607.03 crores, while NSE fell to 1,65,424.13 crores compared to Rs 1,65,955.78 crores previously.