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WEEKLY REPORT
Despite Friday’s sell-off, the Indian market extended the winning run on the third consecutive week, helping to closed above its nine-week high led by DII support, inline rate cut by Federal Reserve, rupee pullback, ahead of GST implementation next week, ignoring persistent FPI outflows, and unresolved US-India tariff issues.
For the week, Nifty50 rose 213.05 points or 0.83 percent to close at 25,327.05, while the BSE Sensex index gained 721.53 points or 0.88 percent to close at 82,626.23.
During the week, State Bank of India added the most in terms of market value, followed by Reliance Industries, Bharti Airtel, and Kotak Mahindra Bank. On the other hand, Asian Paints, Titan Company, and Bajaj Finance lost most of their market capitalization.
Among sectors, except Nifty FMCG (down 0.5 percent), all other indices ended higher, with the Nifty PSU Bank index adding nearly 5 percent, the Nifty Realty index rose over 4 percent, the Nifty Defence index added 3.4 percent, Nifty Energy, and Oil & Gas rose 2 percent each.
All the broader market indices ended with gains, the BSE Large-cap index rose over 1.1 percent, BSE Mid-cap index went up over 1.8 percent and the Small-cap indices also gained over 2 percent this week.
Foreign Institutional Investors’ (FIIs) outflow extended in the 12th straight week, as they sold equities worth Rs 1,327.38 crore, while Domestic Institutional Investors (DIIs) continued their buying in the 23rd week, as they bought equities worth Rs 11,177.37 crore.
Indian rupee ended higher at 88.10 per dollar on September 19 against the September 12 closing of 88.27. During the week, the Indian rupee traded in the range of 88.34-87.72
ECONOMY
China to boost consumption and service sector growth
China unveiled measures to boost services consumption, pledging to further open sectors such as the internet and culture and to encourage the hosting of international sports events, in a bid to support the slowing economy. The measures, jointly released by nine government agencies including the commerce ministry, finance ministry and central bank, also pledged to attract more foreign and private capital to fields such as mid- to high-end medical care. Also, trade-in programmes for consumer durable goods and policies to increase consumer credit to boost spending.
India’s Forex Reserves Rise to $702.97 Billion
India’s forex reserves jumped USD 4.698 billion to USD 702.966 billion for the week ended September 12, the Reserve Bank of India said on Friday. In the previous reporting week, the overall reserves had increased by USD 4.038 billion to USD 698.268 billion. The overall reserves had jumped from USD 3.51 billion to USD 694.23 billion.
STOCKS IN NEWS
Redington
The shares of Redington ended over 22.06 percent higher for the week, as the sale of iPhone 17 began in India with a strong demand. The company is a key distributor of Apple products in India. The company began distributing Apple products in India in 2007.
Poonawalla Fincorp
Shares of Poonawalla Fincorp hit 14.41 percent higher over the week, as a result of the promoter increasing its stake after a Rs 1,500-crore fund infusion. The board has approved the issuance of 3.31 crore shares to the promoter Rising Sun Holdings Pvt. Ltd. The fund infusion was done at Rs 452.51 per share.
Dreamfolks Services
The shares went down 14.69 percent this week, after the firm, which has been facing certain headwinds, discontinued the domestic airport lounge services. The shares went down by over 19 percent in the past month.
SBI
The shares of State Bank of India (SBI) gained more than 4.4 percent as the PSU lender announced the completion of the sale of 13.18 percent stake in Yes Bank to Japanese conglomerate Sumitomo Mitsui Banking Corporation (SMBC).
Premier explosives
Premier Explosives’ share price rose 9.57 percent this week, after the Telangana Pollution Control Board (TGPCB) revoked the closure order (which was issued on account of an accident on April 29, 2025) for the company’s factory situated at Katepally Village, Motakondur Mandal, Yadadri-Bhuvanagiri District, Telangana.
Source – Moneycontrol, Reuters