Indian equity indices continued their upward trajectory in the week ending February 23, building on the gains from the previous week. The Nifty50 index reached a fresh record high of 22,297.50, spurred by favorable macroeconomic data and support from global markets. Despite concerns about rising crude oil prices and US bond yields, investors remained optimistic.
During the week, the BSE Sensex edged closer to its all-time high of 73,427.59, closing at 73,142.8, up by 1 percent. Similarly, the Nifty50 index climbed by 172 points or 0.78 percent to end at 22,212.70. The BSE Small-cap index also advanced by 0.8 percent, with notable gains observed in various stocks such as Jubilant Industries, BF Utilities, and Waaree Renewable Technologies, among others. However, some stocks like IFCI and HPL Electric & Power experienced losses.
In the large-cap segment, the BSE Large-cap Index rose by 1 percent, with companies like One 97 Communications (Paytm), ABB India, and Adani Wilmar contributing to the gains. Conversely, stocks like Hero MotoCorp and Coal India witnessed declines.
The BSE Mid-cap Index ended flat, with mixed performances among different stocks. While companies like Indian Hotels Company and Vodafone Idea saw gains, others like Federal Bank and Gland Pharma faced losses.
Foreign institutional investors (FIIs) continued to be net sellers during the week, while domestic institutional investors (DIIs) remained net buyers. Despite this, the FIIs have sold equities worth Rs 15,857.29 crore in February so far, whereas DIIs have bought equities worth Rs 20,925.83 crore.
In terms of sectoral performance, the BSE Realty index and BSE Telecom index registered gains of 4 percent and 3.8 percent, respectively. Conversely, the BSE Oil & Gas index and BSE Information Technology index declined by 2 percent and 1 percent, respectively.
Reliance Industries saw the highest increase in market value during the week, followed by ICICI Bank and Sun Pharmaceutical Industries. However, Tata Consultancy Services, Infosys, and Wipro witnessed declines in their market capitalization.
The Indian rupee closed marginally higher at 82.94 against the US dollar compared to the previous week’s closing of 83.01.
