In the week ended July 13, the S&P BSE Sensex climbed to a record closing high of 36,541.63 (gain of 2.5 percent) amid June quarter earnings, falling crude prices, tumbling rupee and trade war fears.
Nifty ended with more than 2 percent gain managed to close above 11,000, but was still 100 points away from its record high of 11,171.55.
On Friday, Sensex rose to a record high of 36,740.07, while Nifty hit a high of 11078.3 in Thursday’s trading session.
Reliance Industries (29.89 percent) is a major contributor to the Nifty’s rally followed by Infosys (21.03 percent), HDFC Bank (15.31 percent), Bajaj Finance (15.23 percent) and Titan Company (13.20 percent).
“On a weekly charts a decent bullish candle with a full-fledged breakout above the 8 week consolidation zone is clearly visible on Nifty,” said Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in.
Foreign investors stayed net sellers, while domestic institutions were buyers in the last week.
India’s volatility index (India VIX) was down 1.1 percent last week while largecap index (up 1.96 percent) outperformed the midcap (up 0.26 percent) and smallcap stocks (up 0.85 percent).
BSE Energy index has outperform the other sectorial indices with a gain of 7.6 percent during the week.
Reliance Industries added most to its market value on the BSE, followed by TCS, HDFC Bank and HUL.