Indian market recovers from losses, rises 1% amid global cues; rupee steady

Indian market recovers from losses, rises 1% amid global cues; rupee steady

The Indian equity market rebounded from the previous week’s losses and gained more than 1% in the week ended February 16, supported by auto, oil & gas and banking stocks. The market also benefited from positive global markets, favourable domestic inflation data and the last batch of quarterly earnings from Indian companies.

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The Nifty added 258.2 points or 1.18% to close at 22,040.70, while the Sensex rose 831.15 points or 1.16% to end at 72,426.64. The Sensex touched a fresh record high of 72,477.29 during the week.

 

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The BSE Small-cap index ended flat, with some stocks gaining and some losing more than 20%. The BSE Mid-cap index rose 1%, with Federal Bank, Oil India and Hindustan Petroleum Corporation among the top gainers. The BSE Large-cap index also gained 1.2%, led by Mahindra and Mahindra, Bosch and Wipro.

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Among the sectoral indices, BSE Auto index rose 5%, BSE Oil & Gas index gained 3% and BSE Energy index rose 3%. On the other hand, BSE Telecom, FMCG and Metal indices fell 0.5% each.

Foreign institutional investors (FIIs) continued to sell equities worth Rs 6,237.55 crore, while domestic institutional investors (DIIs) bought equities worth Rs 8,731.60 crore during the week. However, in the month of February so far, the FIIs sold equities worth Rs 13,917.89 crore, while DIIs bought equities worth Rs 17,393.01 crore.

The Indian rupee remained unchanged at 83.01 for the week ended February 16 against the February 9 closing of 83.03.
Source : Money Control

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