Indian Markets Continue Winning Streak Amid Mixed Global Cues

 

Market Ends Fourth Consecutive Week Higher; IT, Telecom, and Realty Stocks Outperform

The Indian benchmark indices extended their gains for the fourth consecutive week ending December 13, despite heightened market volatility driven by mixed global cues ahead of the Federal Reserve's upcoming policy decision. Favorable factors such as Foreign Institutional Investors (FIIs) activity, better-than-expected Consumer Price Index (CPI) inflation, and Index of Industrial Production (IIP) data contributed to curbing weekly losses.

The BSE Sensex advanced by 623.07 points (0.76%) to close at 82,133.12, while the Nifty50 rose by 90.5 points (0.36%) to settle at 24,768.30. The BSE Mid-Cap Index recorded a modest increase of 0.2%.

Key Gainers and Losers

Major Gainers:

  • Delhivery
  • Clean Science & Technology
  • CRISIL
  • Max Healthcare Institute
  • Nippon Life India Asset Management
  • Muthoot Finance

Major Losers:

  • Emami
  • Zee Entertainment Enterprises
  • Biocon
  • Go Digit General Insurance
  • UCO Bank
  • Sun TV Network
  • Sona BLW Precision Forgings
  • Kansai Nerolac Paints
  • Castrol India

The BSE Large-Cap Index edged up 0.24%, supported by strong performances from LTIMindtree, Jindal Steel & Power, Bharti Airtel, Bajaj Finance, Bajaj Holdings & Investment, Wipro, and HDFC Asset Management Company. However, Godrej Consumer Products, Life Insurance Corporation of India, Zomato, Tata Consumer Products, IDBI Bank, Divis Laboratories, Indus Towers, and Avenue Supermarts weighed on the index.

The BSE Small-Cap Index posted marginal losses. Notable gainers included Centum Electronics, Sunflag Iron and Steel Company, Gokaldas Exports, Greaves Cotton, Kitex Garments, Gujarat Industries Power, Indo Count Industries, Varroc Engineering, Vidhi Specialty Food Ingredients, Cantabil Retail India, and Permanent Magnets, with gains ranging from 14–36%. On the downside, Abans Holdings, EKI Energy Services, Neuland Laboratories, Sapphire Foods India, Jana Small Finance Bank, and Gopal Snacks registered losses of 10–14%.

Sectoral Highlights

  • The BSE Information Technology Index rose by 2.6%.
  • The BSE Telecom Index gained 1.7%.
  • The BSE Realty Index climbed 0.6%.
  • However, the BSE Energy and FMCG Indices fell 1.5% each.
  • The BSE Oil & Gas Index declined nearly 1%.

In terms of market capitalization, Bharti Airtel emerged as the top contributor, followed by Infosys, Bajaj Finance, and HCL Technologies. In contrast, Reliance Industries, Hindustan Unilever, and NTPC witnessed the highest losses.

Institutional Activity and Rupee Performance

During the week, FIIs were net sellers, offloading equities worth ₹226.70 crore, whereas Domestic Institutional Investors (DIIs) were net buyers, purchasing equities worth ₹2,880.02 crore. However, for December (to date), FIIs have net purchased equities worth ₹11,706.89 crore, while DIIs have invested ₹4,672.49 crore.

The Indian rupee reached a new record low of ₹84.86 during the week but closed slightly higher at ₹84.79 against the dollar on December 13, compared to its December 6 closing of ₹84.69.

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