Sensex and Nifty50 end week higher despite RBI 5.5% hike
For the week ended October 9, Indian stock markets finally saw some green.
The BSE Sensex added 562.63 points, or 0.78%, to 72472.33 and the Nifty50 rose 98.5 points, or 0.43%, to 22520.45, even though foreign investors kept pulling money out and oil prices stayed high.
The RBI's recent rate hike to 5.5% also played a role in how things moved.
Domestic buying offsets heavy foreign outflows
Midcap stocks held steady, with LIC Housing Finance among the biggest gainers there, while Physicswallah helped push small caps up by 0.5%.
Capital markets and private bank sectors did well (up 2%), but realty and metal stocks dropped over 3%.
Despite heavy selling by foreign investors (about ₹30,294.29 crore), domestic investors bought ₹30,313.48 crore.
Still, the total market value of BSE-listed companies fell by ₹1.64 lakh crore, and the rupee closed weaker at 96.73 against the US dollar.