Indian Stock Market Extends Gains in Fourth Consecutive Week; IT, Telecom, and Realty Stocks Lead the Charge

The Indian stock market continued its positive momentum for the fourth week in a row, ending on December 13, despite some volatility. Mixed global cues, ahead of the upcoming Fed policy meeting, and strong domestic data on CPI and IIP, as well as FII buying, helped the indices stay in the green.

Key Market Indices

• The BSE Sensex gained 623.07 points (0.76%) to close at 82,133.12.
• The Nifty50 rose by 90.5 points (0.36%) to end at 24,768.30.

The BSE Mid-cap Index rose by 0.2%, while the BSE Large-cap Index gained 0.24%. However, the BSE Small-cap Index experienced a minor dip.

Top Gainers and Losers

• Major gainers in the mid-cap segment included Delhivery, Clean Science & Technology, CRISIL, Max Healthcare, and Muthoot Finance.
• Biggest losers included Emami, Zee Entertainment, Biocon, and Go Digit General Insurance.

In the large-cap category, LTIMindtree, Jindal Steel & Power, Bharti Airtel, and Bajaj Finance led the gains, while Godrej Consumer Products, Life Insurance Corporation, and Zomato were among the losers.

Sectoral Performance

• The Information Technology sector surged by 2.6%, followed by Telecom (1.7%) and Realty (0.6%).
• On the downside, Energy and FMCG sectors saw a drop of 1.5%, while Oil & Gas was down by nearly 1%.

Foreign Institutional Investment (FII) and Domestic Institutional Investment (DII)

• FIIs sold equities worth Rs 226.70 crore during the week.
• On the other hand, DIIs continued to support the market with purchases worth Rs 2880.02 crore.
• In December, FIIs have purchased Rs 11,706.89 crore, while DIIs have bought Rs 4,672.49 crore so far.

Currency Movement

The Indian Rupee hit a fresh record low of 84.86 per dollar during the week, ending slightly lower at 84.79 on December 13, compared to 84.69 on December 6.

Overall, the week saw positive market sentiment, driven by strong performances in IT, telecom, and real estate stocks, despite global market pressures and a weakening rupee.

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_{^{Source: Moneycontrol}}