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

By Malvika Gurung

Investing.com – The local market closed the week ending June 16th at record highs, with benchmark indices posting stellar gains.

The main index ended up 0.74% at 18,826 levels on Friday, just a few points away from its all-time high of 18,887.6 points, while adding 137.9 points, or 0.74%.

During the week, the indices jumped 1.41% and 1.21%, respectively. The broader market indexes beat the headlines in the week ending June 16, 2023.

The indices outperformed the benchmarks, topping out nearly 3% each, up 2.85% and 2.9% respectively during the week, while the broader market index rose 1.91% last week.

Sectoral indices sparkled in the past week, rising by 3.74% and 3.35%, respectively, while Nifty Realty stock approached its highest level in 52 weeks, at 527.15 points.

Compared to the two indices, the Stars Sectoral Index decreased by 0.12% in the week ending June 16.

The week also turned out to be a highlight after the market capitalization of all Bahrain Bourse-listed companies on Dalal Street jumped by Rs 2.07 crore to a record high of Rs 291.52 crore on Thursday, surpassing the previous all-time high of Rs. It saw ₹291.25 crore in December 2022.

The combined market valuation rose on expectations that slowing inflation could lead central banks globally to skip further interest rate hikes.

According to market analysts, negative inflows on Friday on the back of rebalancing largely helped Street sentiment, as the Indian stock market was expected to see net inflows of $150-200 million.