Weekly Update- Indian stocks logged strong gains in the week ended Friday, 15 Sept 2017 led by gains in pharma and auto stocks. The BSE Small-Cap and BSE Mid-Cap indices outperformed the Sensex during the week. While the BSE MidCap advanced 217.99 points or 1.38% to settle at 15,972.74, the SmallCap index gained 362.56 pts or 2.22% to settle at 16,687.76.
In the week ended the Sensex rose 585.09 pts or 1.85 percent to settle at 32,272.61. The NSE Nifty index rose 150.60 points or 1.52 percent to settle at 10,085.40.
All through the previous five days, the Sensex had gained 524.44 points on solid global cues on receding concerns on North Korea and sustained buying by domestic investors.
On the macro front, the yearly rate of inflation, based on monthly WPI, figured provisionally at 3.24% for August 2017, corresponding to 1.88% in July 2017 and 1.09% in August 2016, as per data which was announced on Friday, 14 Sept 2017.
The price of Oil soared to their highest weekly rise since on higher demand forecasts and the recommence of refineries in US. The OPEC this week predicted higher demand for its oil in 2018 and pointed to cues of a tighter global market.