Market Overview
The Indian stock market exhibited remarkable performance last week, building on its upward momentum and achieving new record highs by September 20. Investors responded positively to the unexpected 50 basis point interest rate cut by the U.S. Federal Reserve, which contributed to an optimistic atmosphere. Additionally, a decline in unemployment claims in the U.S., an increase in foreign institutional investments (FIIs), and expectations that the Reserve Bank of India (RBI) may follow suit in its upcoming monetary policy meeting further bolstered investor sentiment.
Weekly Performance Highlights
This past week, the Bombay Stock Exchange (BSE) Sensex surged by an impressive 1,653.37 points, or 1.99%, concluding at 84,544.31. The Nifty 50 index also witnessed a significant rise, gaining 434.5 points, or 1.71%, to close at 25,791. Notably, on September 20, both the BSE Sensex and Nifty reached new highs, with values of 84,694.46 and 25,849.25, respectively.
Index Performance
| Index | Change (%) | Closing Value |
|---|---|---|
| BSE Sensex | +1.99% | 84,544.31 |
| Nifty 50 | +1.71% | 25,791 |
| BSE Midcap | Flat | — |
| BSE Smallcap | Flat | — |
| BSE Large-cap | +1.5% | 10,082.92 |
Sector Performance
The BSE Midcap index closed flat after earlier attaining a record high of 49,506.01. Among the notable gainers were:
- Max Healthcare Institute
- Torrent Power
- PB Fintech
- Samvardhana Motherson International
- UNO Minda
- ICICI Securities
- Supreme Industries
- Tube Investment of India
- Shriram Finance
Conversely, the following stocks faced losses:
- Vodafone Idea
- LIC Housing Finance
- Laurus Labs
- Glenmark Pharma
- Oracle Financial Services Software
- Container Corporation of India
- GlaxoSmithKline Pharmaceuticals
- Piramal Enterprises
- IDBI Bank
Large-Cap Movers
The BSE large-cap index not only rose by 1.5% but also crossed the significant 10,000 mark, achieving a new high of 10,082.92. Top gainers in the large-cap segment included:
- Adani Green Energy
- Mahindra & Mahindra
- Bajaj Holdings & Investment
- ICICI Bank
- Nestle India
- Zomato
- ICICI Lombard General Insurance Company
- NTPC
- Larsen & Toubro
However, some stocks faced declines:
- Indus Towers
- Hindustan Aeronautics
- Zydus Lifesciences
- Tata Consultancy Services
- Bharat Electronics
- Adani Wilmar
- UPL
Small-Cap Insights
While the BSE small-cap index also ended flat, it reached an all-time high of 57,502.74. Key performers in the small-cap segment included:
- Neogen Chemicals
- Reliance Infrastructure
- Concord Biotech
- Waaree Renewable Technologies
- Reliance Power
- Himatsingka Seed
- ITD Cementation India
- Sterling Tools
- Maharashtra Scooters
- Vakrangee
- Marathon NextGen Realty
Conversely, the following stocks saw declines:
- Sportking India
- KDDL
- Sadhna Nitrochem
- Abans Holdings
- Renaissance Global
- Nelco
- MK Proteins
- Vimta Labs
- Rane Holdings
- Syncom Formulations
- PTC India
- Trucap Finance
Sector Performance Breakdown
Among various sectors, the Nifty Realty index led the gains with a remarkable 4.5% increase, followed closely by:
- Nifty Bank index: +3.5%
- Nifty Auto index: +2%
- Nifty FMCG index: +1%
In contrast, the Nifty IT index faced notable challenges, falling by nearly 3%, alongside:
- Nifty Media index: -2.6%
- Nifty Pharma index: -2%
Currency and Investment Trends
Throughout the past week, the Indian rupee strengthened against the U.S. dollar, rising by 32 paise to settle at 83.57 on September 20, compared to 83.89 on September 13.
In terms of investments, foreign institutional investors (FIIs) purchased a robust Rs 11,517.92 crore worth of shares, while domestic institutional investors (DIIs) sold shares valued at Rs 633.67 crore. This month to date, FIIs have netted purchases totaling Rs 26,336.52 crore, whereas DIIs have bought shares worth Rs 8,249.79 crore, reflecting a robust interest in the Indian markets.
