Stocks: The BSE benchmark Sensex slipped 75.40 points, but managed to retain the key 28,000- level in the truncated trading week, while broader Nifty ended almost flat, losing a marginal 5.25 points to conclude at 8,666.90.
The week started with Independence-Day holiday, while the subsequent four trading-session saw the key indices ruling a range-bound momentum amid consolidative gains and losses.
Despite good FII inflows into Indian equities, the week witnessed investors focusing on government data of slowdown in industrial production growth and sharp surge in retail inflation by two year highs, also a 23-months high in WPI inflation amply restraining the previous three week's enthusiasm.
Trading sentiment also pressured by global caution due to renewed hawkish statement from some of the US policy makers on sooner interest rate hike rather than later, despite the US Federal Reserve latest meeting minutes issuing a dovish 'no rush to raise rates'.
However, certain stock specific news helped the index to galvanise the sentiment as banking sector made gains following SBI board okaying the merger of five associate banks and Bharatiya Mahila bank paving the way for creation of a bank of global size.
For the week, the Sensex opened higher 28,190.04 and hovered between a high of 28,214.17 and a low of 27,942.65 before closing at 28,077.00, showing a loss of 75.40 points, or 0.27 per cent.
While, the Nifty declined marginally by 5.25 points, or 0.06 per cent to 8,666.90 after moving between a high of 8,696.60 and a low of 8,600.45.
Selling was led by IT, Teck and FMCG sectors, while buying interest was seen in Metal, PSUs, Banks, Power, Oil&Gas, HealthCare and Capital Goods well supported by secondline stocks of mid-cap and small-cap companies.
Meanwhile, foreign portfolio investors (FPIs) and foreign
institutional investors (FIIs) bought shares worth Rs 1,446.51 crore during the week, as per Sebi's record including the provisional figure of August 19.
In the 30-share Sensex pack, 16 stocks ended higher while 14 of them fell during the week.
Major losers were TCS 4.70 pct, Wipro 4.48 pct, Infosys 3.97 pct, Gail India 2.53 pct, Sun Pharma 2.38 pct, Asian Paint 2.37 pct, HUL 2.00 pct, Reliance Ind 1.94 pct, Coal India 1.11 pct and Tata Motors 1.02 pct.
However, Cipla rose by 7.53 pct, SBI 6.29 pct, Adani Ports 6.10 pct, Tata Steel 4.67 pct, NTPC 4.06 pct, ONGC 3.80 pct, ICICI Bank 3.27 pct, Bajaj Auto 2.23 pct, Powergrid 1.69 pct, Hero Motoco 1.39 pct, HDFC Bank 1.35 pct, Bharti Airtel 1.24 pct.
Among the S&P BSE indices, Metal rose by 4.01 pct, Bankex 2.48 pct, Power 2.21 pct, Oil&Gas 2.11 pct, Healthcare 1.50 pct and Capital Goods 0.85 pct.
However, IT index fell by 3.72 pct and Teck 3.16 pct.
The total turnover during the week at BSE and NSE fell to Rs 12,796.47 crore and Rs 80,356.94 crore, respectively from the last weekend's level of Rs 17,997.74 crore and Rs 1,10,161.53 crore.
Forex : The rupee continued to decline against the
American currency for the second consecutive week, slipping by another 16 paise to close at three-week low of 67.05 per dollar on persistent dollar demand from banks and importers amid rise in crude oil prices.
However, sustained foreign capital inflows restricted the rupee's loss against the dollar, a forex dealer said.
Foreign funds pumped in USD 155 million during the week as the Sebi's record.
The rupee opened higher at 66.85 per dollar as against the last weekend's level of 66.89 per dollar at the Interbank Foreign Exchange (Forex) market on initial selling of dollars banks and exporters.
However, it dropped afterwards to three-week low of 67.0650 on fag-end dollar demand from importers in view of rise in crude oil prices before ending the week at 67.05 per dollar, showing a loss of 16 paise or 0.24 per cent. The rupee had last ended at 67.14 on July 27, 2016.
The rupee has dropped by 28 paise or 0.42 per cent in two weeks.
The rupee moved in a range of 66.7400 per dollar and 67.0650 per dollar during the week.
Globally, markets turned cautious after a Federal Reserve policy maker said the US economy is strong enough to warrant an increase in interest rates soon.
Brent crude held firmly above USD 50 a barrel in Asian trade at the end of the week as a bullish momentum continued, fuelled by hopes of an output freeze by key producers and data showing robust US demand.
Crude oil imports form a major chunk of the country's
import basket and high oil prices raise concerns over capital outflows.
In the forward market, premium for dollars declined further due to persistent receipts from exporters.
The benchmark six-month forward dollar premium payable in January 2017 moved down to 177-179 paise from the last weekend's level of 183.5-185.5 paise and far-forward contracts maturing in July also fell to 376-378 paise from 384-386 paise previously.
The RBI fixed the reference rate for the USD at Rs 66.9296 and euro at Rs 75.8714 as against the last weekend's level of Rs 66.8252 and Rs 74.4633, respectively.
In cross-currency trade, the rupee dropped against the pound sterling to close at 87.97 from the last weekend's level of 86.66 and fell further against the euro to finish at 75.91 from 74.56 previously.
The rupee also declined against the Japanese currency at 66.92 per 100 yens from 65.55 previously.
Forex and money markets were closed on 15th August 2016 for Independence Day and 17th August 2016 for Parsi New Year.
Oils and Oilseeds: Edible oils rallies, Industrial oils
recovers, while linseedoil slipped at the wholesale oils and oilseeds market during the truncated week under review.
Groundnut oil prices rallied during the week on sustained demand from stockists and retailers on the back of ensuing festivals amid restricted arrivals from producing regions.
Refined palmolein prices also gained further on persistent retail demand.
Castorseeds bold and castoroil commercial rebounded following fresh enquiries from shipper and soap industries.
Linseed oil prices declined owing to subdued offtake from paint and allied industries.
Oilseeds market remained closed on Monday, 15 August for "Independence day" holiday.
In the edible segment, groundnut oil prices opened higher at Rs 1,430 and later gained further to close at Rs 1,460 from previous weekend level of Rs 1,420 per 10 kg, showing a rise of Rs 40.
Refined palmolein commenced sharply higher at Rs 612 and rose to Rs 625 before finishing at Rs 611 as compared to last weekend's level of Rs 595, showing a sharp rise of Rs 16 per 10kg.
In non-edible section, Castorseeds bold resumed higher and finished at Rs 3,650 as against to preceding weekend's of Rs 3,635, showing a modest rise of Rs 15 per 100 kg.
Castoroil commercial also opened higher and closed at Rs 760 from last Saturday's closing level of Rs 757, showing a marginal rise of Rs 3 per per 10kg.
Linseedoil opened steady at Rs 1,150, later slid towards the fag end to close at 1,125 as against previous weekend's level of Rs 1,150 per 10kg, showing a fall of Rs 25.
