Quick Look Around: Nifty, Sensex Hit Fresh ATHs Last Week, Factors Involved

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Quick Look Around: Nifty, Sensex Hit Fresh ATHs Last Week, Factors Involved
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The domestic market recorded a second consecutive week of gaining streak in the one ending on December 2, 2022, led by multiple global cues, including easing inflation and increased buying by foreign investors.

Benchmark equity indices Nifty50 ended 0.62% lower at 18,696.1 points and Sensex declined 0.66% or 415.69 points lower at 62,868.5 on Friday. 

Global parameters including a downtick in inflation, weakening US dollar , reopening of activities in China, a decline in crude oil prices and the US Fed Chair Jerome Powell’s signal that the central bank could raise the benchmark interest rate by a smaller size in December, aided the headline indices to end the week on a higher note.

The indices, Nifty50 and Sensex gained almost a percent higher in the week ended Dec 2, each hitting fresh all time highs of 63,583.07 and 18,887.6, respectively.

As per data, foreign investors (FIIs) bought domestic shares worth Rs 15,067.55 crore, while domestic investors (DIIs) offloaded shares worth Rs 1,335.57 crore.

The Indian rupee ended the week on a higher note too, climbing 37 paise against the US dollar and closing the week at 81.31/$1.

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