Sensex & Nifty Weekly Performance: Modest Gains Amid Muted Investor Activity: Sensex and Nifty’s key stock market indexes witnessed modest gains during the holiday-shortened week. The absence of any major events and the Christmas and New Year holiday season kept investors’ participation muted. Meanwhile, broader markets relatively underperformed the benchmarks and ended flat during the week.
Key Highlights of Sensex and Nifty’s Weekly Performance
In the week ended on Friday, 27 December 2024, the S&P BSE Sensex rose by 657.48 points or 0.84% and closed at 78699.07. The Nifty 50 index gained 225.90 points or 0.96% and settled at 23813.40. The BSE midcap index was up 0.21% and closed at 46,325.58 while the Small-Cap index ended slightly lower by 0.18% and ended at 55048.12.
On the sectoral front, the Nifty Auto and Pharma indices rose 2.3% and 2.25% respectively, while the Nifty FMCG index added 1.52 percent. On the other hand, the Nifty Media index shed nearly 1.81% and the Nifty Metal index was down 1.05%.
Foreign Institutional Investors (FIIs) continued their selling during the week, as they sold shares worth Rs 6,322.88 crore, while Domestic Institutional Investors (DII) continued to extend support to the Indian market as they bought shares worth Rs 10,927.73 crore.
For the month so far FIIs sold shares worth Rs 10,444.10 crore, while DIIs purchased shares worth Rs 27,474.14 crore.
Stock Market Weekly Review: Top Gainers, Losers & Key Economic Updates
The top Nifty 50 gainers were M&M, Trent, Adani Ports, Tata Motors, and Dr. Reddy’s Lab. The top Nifty 50 losers for the week were Hero Motor Corp, Power Grid, SBI, Titan, and Tata Steel.
The top Nifty Midcap gainers were Adani Wilmar, Hitachi, One97, Phoenix Mill, and Ajanta Pharma. The losing stocks in the Nifty Midcap index were KPR Mills, HUDCO, Thermax, GIC, and BSE Ltd.
The top weekly gainers in the Nifty Smallcap index were Luruas Lab, Blue Star, RBL Bank, Finolex Cable, and Kalpaturu. The losing stocks in the Nifty Smallcap index were Sonata Software, Hindustan Copper, ABREL, CDSL, and Zenstar.
Economic Update
On the economic front, the foreign exchange reserves dipped by $1.98 billion to 652.87 billion as of December 13, according to the data shared by RBI on Friday.
As per the data released by the RBI on Friday, India’s Current Account Deficit from July to September 2024/Q2FY25 widened to USD 11.2bln from USD 9.7 bln in Q1FY25. The reading was better than the Bloomberg Median estimate for a deficit of USD 15.3 bln with a range between USD 13 bln to USD 18bln.
Global Stock Market News
On the global front, Tokyo’s November inflation rose to 3% from 2.6% in October, with core inflation at 2.4%, signaling potential nationwide trends.
In the U.K., the final Q3 GDP data showed no growth, revising the earlier estimate of 0.1% growth.
The U.S. PCE price index increased by 0.1% in November, down from October’s 0.2%, with annual inflation at 2.4%, above the Fed’s 2% target.
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