Saturday, November 23, 2024

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The market rally continues for 3 weeks, led by banks, oil & gas; Fiis changes the buyer clean

The market rally continues for 3 weeks, led by banks, oil & gas; Fiis changes the buyer clean

The market began in 2022 on a stronger note and also continued the winner’s momentum for the third consecutive week when FIIS changed clean buyers despite increasing Covid cases and ignorant horses by Fick. The market also gets support from purchases seen in banking and oil and gas stocks.

Last week, BSE Sensex added 1,490.83 points (2.55 percent) ended at 59,744.65, while Nifty50 rose 458.65 points (2.6 percent) to close at the level of 17,812.70.

The BSE hat index jumped 2.5 percent with the Grasim industry, the pidy and gas and natural gas corporation industry which rose more than 10 percent, while Cadila Healthcare, Tech Mahindra, Laboratory and Infosi Dr. Reddy fell 4-6 percent.

The BSE SmallCap index added 2 percent with the BGR energy system, Jaiprakash Power Ventures, Tata Teleservices (Maharashtra), 63 Moons Technologies, DB Realty, Urja Global, Jaypee Infratech, Greaves Cotton, Steel Exchange India and JBM Auto up more than 25 percent. On the other hand, Hinduja’s global solution, Spandana SpooTy Financial, Surya Roshni, Dhanuka Agritech and the brigade crashed 10 percent.

BSE Central Index rose 2 percent supported by AU Small Financial Bank, Rajesh Exports, Cholamandalam Investment, Federal Bank and Industrial Pages. However, losers are Abbott India, Bajaj Holdings & Investment, Mphasis, Torrent Pharmaceuticals and Glenmark Pharma.

At BSE Sensex, Reliance Industries (RIL) added the most in terms of market value, following Tata Consultation Services, Bajaj Finance and HDFC Bank in the last week. On the other hand, Infosys, Tech Mahindra and HCL Technologies have lost the most in terms of market value. (Disclaimer: MoneyControl is part of the network18 group. Network18 is controlled by independent media trust, where the Reliane industry is the only beneficiary.)

Among the sectors, bankex bones and oil & gas indices each rose 6.3 percent and 5.3 percent, while the health index and information technology lost 1-2 percent.

Investors of foreign institutions (FIIS) buy equity worth 1,082.83 crore, and domestic institutional investors (DIIS) buy equity worth Rs 3,293.28 Crore.

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