Market continues to rise in the fourth week due to low US inflation, FII purchases, and a strong rupee

The market increased for the fourth week in a row and gained more than 1% in the week that ended November 11 thanks to a strong rebound by international markets following lower than anticipated US inflation statistics, ongoing FII support, a strengthening rupee, and solid profits from India Inc.

The Nifty50 increased 232.55 points or 1.28 percent to conclude at 18,349.7 levels, while the BSE Sensex increased 844.68 points or 1.38 percent to complete the week at 61,795.04 levels.

Zomato, FSN E-Commerce Ventures (Nykaa), Bank of Baroda, Britannia Industries, HDFC Bank, and Punjab National Bank were the leading gainers in the BSE Large-cap Index, which increased by 1%.

Ramco Cements, Aurobindo Pharma, Tube Investments of India, Deepak Nitrite, and Jubilant FoodWorks all contributed to the BSE Mid-cap Index's 0.7 percent decline. Union Bank of India, Bank of India, Samvardhana Motherson International, Supreme Industries, and Endurance Technologies, on the other hand, all saw gains of 7 to 21 percent.

The BSE Small-cap index decreased by 0.4%. The following companies saw a 15–23% increase in value: TCPL Packaging, Honda India Power Products, Kamdhenu HLV, Future Retail, Sanghvi Movers, Neuland Laboratories, SMS Pharmaceuticals, FIEM Industries, Lumax Industries, MPS, Indraprastha Medical Corporation, Hindustan Foods, Timex Group India, KPI Green Energy, Swan Energy, Dhunseri Ventures, and Ajmera Realty. However, the following companies suffered 15–18 percent losses: Cressanda Solution, TeamLease Services, NR Agarwal Industries, DMCC Speciality Chemicals, Campus Activewear, Renaissance Global, Everest Industries, NRB Bearings, and Fairchem Organics.

In terms of market capitalization, HDFC Bank, Tata Consultancy Services, Housing Development Finance Corporation, and Reliance Industries made the most gains on the BSE Sensex. However, Asian Paints, Titan Company, and Bajaj Finserv also saw significant market cap losses.

Sector-wise, the Nifty PSU Bank index increased by 6.5 percent, the Nifty IT index increased by 3 percent, and the Nifty Bank and Metal indices both increased by 2 percent. Nifty Auto index fell 1.7 percent, while Nifty Pharma index dropped 3 percent.

This week, domestic institutional investors (DIIs) sold shares worth Rs 2,255.91 crore, while foreign institutional investors (FIIs) continued to buy shares for Rs 6,329.63 crore.

The Indian rupee had a strong week overall, rising 162 paise to close at 80.81 against the dollar on November 11 compared to 82.43 on November 4.