Broadcap indices outperform amid volatile week
Mid-sized and small company stocks climbed ahead of benchmark indexes through the shortened holiday trading week, with the BSE midcap rising half a percentage point and the smallcap advancing 1 percent. Foreign investment flows and stronger-than-expected quarterly results pushed 41 small-company shares up by 10 to 36 percent. The BSE Sensex added 259 points to finish at 84,211 while the Nifty50 gained 85 points to close at 25,795.
Foreign funds bought 342.74 crore rupees worth of stocks after weeks of selling, and domestic institutions extended their purchasing streak to 27 weeks with 5,945 crore rupees in net acquisitions. Information technology shares gained 3 percent for the week, while public sector banks added 2 percent and metals rose 1.5 percent. The consumer goods and automotive sectors each declined by about half a percent as traders locked in profits.
Market watchers expect continued swings as investors monitor trade discussions between Washington and New Delhi alongside interest rate decisions from the Federal Reserve and European Central Bank.
