Stocks: Global sell-off amid crude volatility pulled down the domestic market with benchmark Sensex losing 253.72 points to close 24,616.97 during the week, while broader Nifty drifted below the key 7,500-level.
The week saw the market falling three out of five sessions coupled with mostly range-bound momentum as investors opted for caution due to key RBI's sixth bi-monthly monetary policy meet, while duly digesting the status quo in key interest rate. But the sentiment got jittery following fresh slide in crude oil below USD 30-barrel reviving global economic down-trend concerns.
The rise in domestic PMI's of manufacturing and service sectors also could not augment the stock-momentum as equally choked by volatile rupee sentiment and added global uncertainties emanated from struggling Chinese economy despite country's central bank injecting more liquidity.
However, the indices reverted to gains amid fag-end rebound in global stocks amid jump in crude prices and signs of further US interest rate hike in Federal Reserve's March FOMC meet greatly reduced.
The market also gained following major stock specific developments coupled with hope for key reform bills including GST and Bankruptcy bills will get passed in the Budget Session, beginning on February 23.
The sensex resumed higher at 24,982.22 and hovered in a range of 25,002.32 and 24,187.54 before ending at 24,616.97, showing a loss of 253.72 points or 1.02 per cent.
The 50-share Nifty also fell by 74.45 points or 0.98 per cent to 7,489.10.
The selling was led by power, oil and gas, realty, PSUs,
banking, healthcare, auto and capital goods sectors, while shares of midcap and smallcap also witnessed sustained selling.
However, buying was witnessed in key FMCG, consumer durables, tech and IT segments.
Foreign portfolio investors (FPIs) sold shares net Rs 763.03 crore during the week as per the SEBI's record including the provisional figure of February 5.
In the 30-share Sensex pack, 15 stocks rose while the remaining 15 stocks fell during the week.
Major losers were NTPC 12.31 pct, Maruti 9.13 pct, ICICI Bank 9.08 pct, Gail 6.91 pct, SBI 6.53 pct, Tata Steel 6.42 pct and Reliance Ind 6.06 pct.
However, Bharti Airtel rose by 6.01 pct, Lupin 5.33 pct, HUL 3.68 pct, Larsen 3.40 pct, Asian Paints 3.26 pct, Coal India 1.92 and TCS 1.45 pct.
Among the major indices, power fell by 5.70 pct followed by oil and gas 3.89 pct, realty 3.40 pct, Bankex 2.45 pct and healthcare 1.63 pct, auto 1.28 pct while FMCG rose by 1.42 pct, consumer durable 0.49 pct, tech 0.42 pct and IT 0.28 pct.
The BSE mid-cap and small cap indices moved down by 0.79 per cent and 2.76 per cent, respectively.
The total turnover at BSE and NSE rose to Rs 13,846.62 crs and Rs 84,978.59 crores respectively as against the last weekend's level of Rs 10,420.61 crore and Rs 70,348.91 crore.
Forex: Snapping a four-week losing streak against the
US dollar, the Indian rupee recovered by 14 paise to 67.64 per dollar on selling of dollars by exporters and banks in view of fag-end recovery in equities.
Weakness of dollars in the overseas market also boosted the rupee value against the dollar, a forex dealer said.
The domestic unit resumed slightly higher at 67.77 per dollar as against the last weekend's level of 67.78 per dollar at the Interbank Foreign Exchange (Forex) Market on initial foreign capital inflows.
It dropped immediately to a low of 68.26 per dollar during the mid-week on good dollar demand from banks amid a massive fall in equities as the Reserve Bank kept its key policy rate unchanged.
However, it recovered again to 67.55 per dollar at the fag-end of the week before concluding at 67.64 per dollar, showing a gain of 14 paise or 0.21 per cent.
It had dropped by 164 paise or 2.48 per cent in the previous four weeks.
Globally, enthusiasm over the Bank of Japan's surprise decision on last Friday to introduce the nation's first negative interest rates had pushed up the dollar. But investors sold off the dollar after the steep fall in oil prices as they sought refuge in the yen's safe-haven status.
Meanwhile, Foreign portfolio investors (FPIs) pumped out net USD 22.68 million in first four days of week as per the SEBI's record.
Oils and Oilseeds: Refined palmolein rebounds, while
groundnut oil, castorseeds and linseed oil weakened further in truncated Vashi wholesale oils and oilseeds market week under review.
Refined palmolein reovered following renewed demand from retailers.
However, groundnut oil slipped due to subdued demand stockists and retailers amid ample arrivals from producing regions.
Castorseeds bold and castoroil commercial dipped further owing to reduced demand from shippers and soap manufacuturing units.
Linseeds oil declined further following weak demand from paint and allied industries.
Oils and Oilseeds market remained closed on Monday on account of "Maharashtra Day."
Groundnut oil opened stable at Rs 1,040 and later eased to close at Rs 1,025 from its previous closing level of Rs 1,040, showing a modest loss of Rs 15 per 10 kg.
Refined palmolein resumed higher at Rs 542 and gained further to conclude at Rs 548 as against previous weekend's level of Rs 540, showing a rise of Rs 8 per 10 kg.
Turning to non-edible section, castorseeds bold commenced stable at Rs 4,900, later dipped to finish at Rs 4,750 as compared last weekends' level to Rs 4,900, showing a sharp fall of Rs 150 per 100kg.
Similarly, castor oil commercial also resumed steady at Rs 1,010 and fell to close at Rs 980 from last weekend's level of Rs 1,010, showing a loss of Rs 30 per 10kg.
Linseed oil prices opened lower at Rs 790, later slipped to end at 780 as compared to last weekends level of Rs 800, showing a loss of Rs 20 per 10kg.
