Mumbai: The S&P BSE benchmark Sensex and the NSE 50-share Nifty hit all-time high on fresh buying in select counters during the week in view of good corporate results mainly from Reliance Industries and Wipro coupled with persistent foreign capital inflows.
Anupam Singhi, COO, William O'Neil India said," The benchmark indices started on a positive note on Monday, as the market continued its momentum from last week. The benchmark indices scaled new all-time highs, and also registered fresh closing highs on Monday.
On Tuesday, key indices fell, as the market heavyweight ITC dropped more than 12 percent, after the GST council decided to increase the cess on cigarettes. After Tuesday, the market has witnessed a fight between the bulls and the bears, as the market seesawed between gains and losses on the remaining days of the week.
Finally, by the close of the week, the key indices were within touching distance of their record highs registered on Monday.
The Nifty started the week at 9,908.15 and traded in the range of 9,792.05-9,928.20. The index finally closed at 9,915.25, up 0.29 percent from last weekend's level.
After opening the week at 32,053.98 points, the Sensex closed at 32,028.89, advancing just 0.03 percent from the previous Friday?s closing price. During the week, the Sensex traded in a range of 31,626.44-32,131.92.
The highlight of the week was Reliance Industries' 40th AGM, where the Company made announcements about Reliance JioPhone, its much-touted affordable 4G phone.
Index pivotal Reliance Industries (RIL) advanced 3.60 percent to close at Rs 1,586.20 after the company announced that its board of directors recommended 1:1 bonus issue of shares.
IT major Wipro jumped by 10.37 percent to Rs 286.40 after the company at the time of announcing Q1 results said that its board approved buyback of shares up to Rs 11000 crore.
Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) bought shares worth Rs 1,956.51 crore during the week, as per Sebi's record including the provisional figure of July 21.
Among the 31-share Sensex pack, 23 stocks rose and remaining 8 stocks fell during the week.
Other gainers from the sensex pack were Axis Bank 5.28 percent, Coal India 4.67 percent, TCS 3.84 percent, ONGC 3.78 percent, Asian Paints 3.52 percent, Cipla 3.43 percent, Tata Motors 2.81 percent, Kotak Bank 2.22 percent, Dr Reddy's Lab 2.04 percent, HUL 1.65 percent, Bharti Airtel 1.37 percent, HDFC Bank 1.33 percent and Sun Pharma 1.07 percent.
However, ITC ended lower by 14.44 percent, Hero Motoco 1.88 percent, NTPC 1.62 percent and Tata Steel 1.23 percent.
Among the S&P BSE sectoral indices Teck rose by 2.77 percent , IT 2.69 percent, Metal 1.88 percent, Bankex 1.36 percent, Oil&gas 1.03 percent and Helathcare 0.92 percent while FMCG fell by 6.56 percent.
The total turnover during the week on BSE fell to Rs 21,009.59 crs from the last weekend's level of Rs 26,550.34 and the NSE rose to Rs 1,36,084.72 crs from Rs 1,13,681.02 crore.
