The automotive, oil and gas, and banking sectors helped the Indian market erase its losses from the previous week and gain over 1%. Positive international markets, favorable local inflation statistics, and India Inc.’s last quarter of profitability provided support for the market.
The BSE Small-cap index had a flat closing value. ISGEC Heavy Engineering, Permanent Magnets, Salasar Techno Engineering, Dhunseri Ventures, Andhra Petro, Kamdhenu Ventures, Orient Green Power Company, and Visaka Industries lost between 15 and 23 percent. In contrast, Jubilant Industries, Mangalore Refinery and Petrochemicals, Force Motors, Natco Pharma, Time Technoplast, 63 Moons Technologies, and HPL Electric & Power increased 21 to 55 percent.
Federal Bank, Oil India, Hindustan Petroleum Corporation, Polycab India, MphasiS, and MRF led the 1% increase in the BSE Mid-cap Index. In contrast, SJVN, Bharat Forge, Rajesh Exports, Zee Entertainment Enterprises, and Aditya Birla Fashion & Retail saw losses of 8–14 percent.
Wipro led the pack in terms of market value addition, trailed by State Bank of India, Mahindra & Mahindra, and Maruti Suzuki India. However, the companies with the biggest market capitalization losses were ITC, Hindustan Unilever, and Sun Pharmaceutical Industries.
Sectorally, the BSE Energy index increased 3%, the BSE Oil & Gas index gained 3%, and the BSE Auto index increased 5%. However, the BSE’s metal, FMCG, and telecom indices fell by 0.5 percent each.
