D-Street Posts Stellar Gains Last Week, Nifty SmallCap Soars 3%, Trumps Headlines

By Malvika Gurung

Investing.com -- The domestic market closed the June 16-ended week at record high levels, with benchmark indices making stellar gains.

Headline index Nifty50 ended 0.74% higher at 18,826 levels on Friday, only a few points away from its all-time high of 18887.6 points, while Sensex added 137.9 points or 0.74%.

For the week, the indices jumped 1.41% and 1.21%, respectively. Broader market indices outperformed the headlines in the week ended on June 16, 2023. 

NIFTY Smallcap 100 and NIFTY Midcap 100 indices trumped the benchmarks, topping nearly 3% each, up 2.85% and 2.9%, respectively during the week, while the broadest market index Nifty 500 surged 1.91% last week.

Sectoral indices Nifty Realty and Nifty Consumer Durables shone in the past week, soaring 3.74% and 3.35%, respectively, while Nifty Realty neared its 52-week high of 527.15 points.

Compared to the two indices, the star sectoral index Nifty Bank dropped 0.12% in the June 16-ended week.

The week also turned out to be a highlight after the market capitalisation of all the BSE-listed companies on Dalal Street jumped by Rs 2.07 lakh crore to a record high of Rs 291.52 lakh crore on Thursday, surpassing its previous all-time high of Rs 291.25 lakh crore witnessed in December 2022.

The combined market valuation rallied amid anticipations that a slowdown in inflation could lead to central banks globally skipping further interest rate hikes.

As per market analysts, passive inflows on Friday on the back of FTSE rebalancing, majorly aided the Street’s sentiments, as India’s equity market was expected to witness a net inflow of $150-$200 million.