Mumbai, Nov 1 (NationPress) The domestic broader market has recorded an increase for the second week in a row, notwithstanding the market fluctuations caused by ongoing foreign investor selling, varied quarterly earnings (Q2 earnings), global geopolitical tensions, and the recent US Federal Reserve rate cut decision.

The BSE Midcap and Smallcap indices experienced a rise of 1 percent and 0.7 percent, respectively. Similarly, the Nifty Midcap 100 advanced by 1 percent, while the Nifty Smallcap climbed 0.7 percent throughout the week.

Despite a decline in the Sensex and Nifty50, key sectoral indices remained robust this week. The Nifty PSU Bank index surged by 4.7 percent, trailed by Oil & Gas at 3 percent, Nifty Metals at 2.5 percent, and Nifty Energy at 1.8 percent. Conversely, indices such as Nifty Pharma, Nifty Auto, and Private Bank saw declines of up to 1 percent, indicating selective profit-taking across various consumer sectors.

This week marked the end of a four-week winning streak for the Sensex and Nifty, which closed slightly lower amid profit-taking and mixed global indicators.

The NSE's Nifty and BSE's Sensex fell by 0.65 percent and 0.55 percent, finishing at 25,722 and 83,938, respectively.

Positive domestic economic indicators and China's recent approval for a handful of Indian companies to import rare earth magnets fostered market optimism during the first three trading sessions.

However, following the US Federal Reserve reducing its benchmark interest rate by 25 basis points to the 3.75–4 percent range, market sentiment turned cautious.

For the 28th week in a row, domestic institutional investors (DIIs) have remained heavy buyers, acquiring stocks worth Rs 18,804.26 crore, while foreign institutional investors (FIIs) continued to sell shares valued at Rs 2,102 crore.

In stark contrast to the strong DII purchasing of Rs 52,794.02 crore, FII selling has dropped to Rs 2,346.89 crore month-over-month.