The BSE Sensex climbed over 127 points to finish at 38,672.91 Friday -- the last trading day of fiscal 2018-19 during which the benchmark posted a rise of 17.30 per cent. The broader NSE Nifty closed at 11,623.90, capping off the financial year with a gain of 14.93 per cent. The Sensex advanced 5,704.23 points (17.30%) while the Nifty jumped 1,510.20 points (4.93%) during 2018-19. Investors' wealth zoomed Rs 8.83 lakh crore in the year, with the market capitalisation (m-cap) of BSE-listed companies reaching Rs 1,51,08,711.01 crore.
On the Last day of the year
Analysts attributed the continuing market rally to robust investor sentiment driven by foreign fund inflows, stronger rupee and a likely positive outcome of the US-China trade talks. Rising for the second straight day, the 30-share BSE Sensex started off on a strong footing at 38,675 points and touched a high of 38,748.54 before winding up at 38,672.91, recording a rise of 127.19 points. The 50-share NSE Nifty closed at 11,623.90, higher by 53.90 points after hovering between 11,630.35 and 11,570.15.
- On a weekly basis, the Sensex advanced over 508 points while the Nifty gained 167 points.
- In the Sensex pack, Vedanta rallied 3.20 per cent Friday, followed by Tata Steel, M&M, Tata Motors, ONGC, Hindustan Unilever, Maruti, Hero MotoCorp, HDFC, Bajaj Finance, SBI, HDFC Bank, HCL Tech, Coal India, Sun Pharma, Infosys, Reliance and Bharti Airtel, rising up to 2.69 per cent. On the other hand, IndusInd Bank emerged as the top loser, dropping 2.08 per cent. Other major laggards were ITC, Bajaj Auto, ICICI Bank, Axis Bank, Asian Paints, PowerGrid, NTPC, Kotak Bank and L&T, shedding up to 1.10 per cent.
- Sectorally, the BSE metal index gained the most at 2.33 per cent, followed by basic materials (2.10 per cent), healthcare (1.37 per cent) and auto (1.22 per cent). FMCG, utilities and bankex indices closed in the red, losing up to 0/14 per cent.
Small stocks fall up to 11.6 pc in FY19
Small and mid-cap indices of the BSE suffered losses of up to 11.6 per cent during 2018-19, lagging behind their blue-chip peer which logged a gain of more than 17 per cent. While the small-cap index plunged 11.57 per cent or 1,967 points during 2018-19 fiscal, the mid-cap index went down by 3 per cent or 482.97 points. On the other hand, the Sensex jumped 17.30 per cent or 5,704.23 points. And, the NSE Nifty closed at 11,623.90, capping off the financial year with a gain of 14.93 per cent. "The cycle of FY19 has completed, the benchmark Nifty had given return of 15 per cent y-o-y (year-on-year). Sectors like bank, energy and IT outperformed followed by FMCG (fast-moving consumer goods) and Pharma," said Vinod Nair, head of research, Geojit Financial Services Ltd. According to market experts, headwinds such as concerns of slowdown in global economy, rising crude oil prices and trade war issue played spoilsport for the broader market. Small stocks tend to suffer more during times of uncertainty, experts said. The BSE Small Cap index had touched its 52-week high of 18,457.26 on May 2, 2018, while its one-year-low level of 13,099.46 was hit on February 18, 2019. The mid-cap index jumped to its 52-week high of 17,059.37 on May 2 last year. The index slipped to its one-year-low of 13,538.62 on October 9, 2018. The BSE 30-share benchmark scaled its all-time peak of 38,989.65 on August 29, 2018. According to market analysts, smaller stocks are generally bought by local investors, while overseas investors focus on blue-chips. The mid-cap index tracks companies with a market value that is, on an average, one-fifth of bluechips or large firms. Small-cap firms are almost a tenth of that.
No comments:
Post a Comment