Markets continue to rule firm for 3rd week

Stocks: Markets continued to rule firm for the third consecutive week following persistent buying in select counters on the back of a series of market-friendly budgetary proposals coupled with persistent foreign capital inflows.
Realty stocks continued their upward journey, buoyed by the infrastructure status to affordable housing in the Budget 2017-18 to encourage investment in the segment, which also came out with tax sops for developers to complete inventories.
Contrary to market expectations, RBI left interest rate unchanged at 6.25 per cent and shifted the policy stance to 'neutral' from 'accommodative'.
Governor Urjit Patel lowered the GDP growth forecast to 6.9 per cent for 2016-17, but its growth projection of 7.4 per cent for 2017-18.

However, investors were cautious ahead of the key macro data -- the index of industrial production (IIP) for December which was due at the fag-end of the week.
The sensex resumed higher at 28,340.39 and shot up further to a four-month high at 28,487.28 on initial buying, but dropped afterwards to 28,149.08 on profit-booking before ending at 28,334.25, still showing gain of 93.73 points of 0.33 per cent. It gained 1,299.75 or 4.81 per cent in three weeks.

Meanwhile, foreign portfolio investors (FPIs) and
foreign institutional investors (FIIs) bought shares worth Rs 743.18 crore during the week, as per Sebi's record including the provisional figure of February 10.

In the broader market, the BSE Mid-Cap index climbed 183 points or 1.38 per cent to settle at 13,468.41. The BSE Small-Cap index gained 179.21 points or 1.34 percent to close at 13,601.31. Both these indices outperformed the Sensex.
Among sectoral and industry indices, consumer durables rose by 5.20 per cent followed by IT 3.83 per cent, Teck 3.63 per cent, realty 3.30 per cent, IPO 2.74 per cent, consumer goods 2.56 per cent and Power 1.86 per cent.
However, Metal fell by 1.64 per cent followed by Healthcare 0.77 per cent, PSU 0.18 per cent and oil&gas 0.04 per cent.

Among the 30-share Sensex shares pack, 15 stocks advanced and remaining 15 stocks declined during the week.
Key benchmark indices heavyweights TCS rose 7.29 per cent followed by Infosys 3.54 per cent, Adaniports 2.54 per cent, Wipro 2.26 per cent, Larsen 1.46 per cent, HeroMoto Co 1.28 per cent, Sun Pharma 1.23 per cent, M&M 1.19 per cent, Bharti Airtel 1.16 per cent, GAIL 1.09 per cent, AsianPaint 0.88 per cent and Hindunilever 0.25 per cent.
While, Dr Reddy dipped 5.30 per cent followed by Cipla 4.77 per cent, ONGC 3.76 per cent, Tata Motors 2.51 per cent, Lupin 1.59 per cent, Powergrid 0.92 per cent, NTPC 0.90 per cent and Tata Steel 0.89 per cent.

The total turnover during the week on BSE rose to Rs 19,956.82 crore from Rs 17,047.57, while NSE fell to Rs 1,22,609.90 as against Rs 1,29,260.76 crs last weekend.