Mumbai: Despite fag-end selling pressure, both the indices, S&P BSE Sensex and CNX Nifty, ended in the green for the 3rd consecutive week on persistent buying by foreign funds on a host of positive factors such as sustained gains in the rupee and easing tensions over Syria.
Sustained foreign capital inflows boosted the market sentiment as FIIs invested a net Rs 4,112.10 crore during the week, including the provisional figure of September 13. FII buying was also driven after the RBI allowed non-residents to buy shares of Indian entities listed on stock exchanges under the FDI scheme, subject to certain conditions.
The threat of immediate US-led military action against Syria appeared uncertain, with Washington saying it will consider Russia's call for Syria to turn over its chemical weapons to international control, which also helped Sensex to rise.
Shares of Realty, Capital Goods, Power, Auto, metal and FMCG sectors firmed up on good buying enquiries.
Apart from the rupee's gains, investors were buoyed by trade data that showed exports on the uptick for the second straight month in August, a revival in car sales last month and a cut in the floor price for auctioning telecom spectrum.
The Sensex resumed higher at 19,448.39 and breached the 20,000 mark for the first time since July 25 and gained by 727.04 points or 3.77 percent on Tuesday.
It was the biggest gain in absolute terms since the Sensex surged 2,110.79 points, or 17.34 percent, on May 18, 2009, when the UPA government came to power for the second term.
However, it ended the week at 19,732.76, showing a gain of 462.70 points or 2.40 percent. It has gained 1,213.32 points or 6.55 percent in three weeks.
The NSE 50-share Nifty also firmed up by 170.20 points or 3.00 percent to 5,850.60. It has also risen by 378.85 points or 6.92 percent in three weeks.
Auto stocks were the winners. Domestic passenger car sales increased 15.37 per cent to 1,33,486 units in August, snapping a nine-month streak of declines.
Mid-cap and small-cap indices firmed up by 3.82 percent and 3.10 percent, respectively, and outperformed the Sensex on good buying enquiries from retail investors.
Investors and operators preferred to book profit ahead of the Fed policy meeting next week which is also another important event.
Meanwhile, the Prime Minister's key adviser scaled down the GDP growth estimate and said a tight monetary policy should continue until the rupee stabilises.
The Prime Minister's Economic Advisory Council cut the nation's GDP growth forecast to 5.3 percent for FY'14 from an earlier estimate of 6.4 percent.
Concerns over growth and the monetary policy outweighed positive economic data that showed industrial output expanded 2.6 percent in July after two months of contraction and retail inflation easing to 9.52 percent in August.
25 scrips of the 30-share Sensex pack ended in green while remaining five finished in red.
Major gainers were Larsen (10.62 percent), M&M (7.62 percent), Sun Pharma (6.62 percent), Hero Motocorp (6.40 percent), HDFC (6.03 percent), Coal India (5.37 percent), NTPC (5.03 percent), Tata Motors (4.89 percent), Bajaj Auto (4.62 percent), ITC (4.85 percent), Sesa Goa (4.79 percent), Hindalco Ind (3.98 percent), Bharti Airtel (3.90 percent), Gail India (3.78 percent), Maruti Suzuki (2.35 percent), Tata Steel (2.09 percent), HDFC Bank (2.09 percent) and SBI (1.82 percent).
However, Wipro dropped by 2.79 percent followed by ONGC 2.21 percent, ICICI Bank 1.92 percent and TCS 1.88 percent.
Among major indices, S&P BSE-Realty rose by 8.85 percent followed by S&P BSE-CG 8.01 percent, S&P BSE-IPO 5.77 percent, S&P BSE -Power 5.44 percent, S&P BSE-Auto 5.06 percent, S&P BSE-Metal 3.82 percent, S&P BSE-FMCG 3.45 percent, S&P BSE-PSU 3.12 percent, S&P BSE-HC 2.48 percent and S&P BSE-Bankex 2.26 percent.
The dollex-200 and dollex-30 also rose by 5.70 percent and 5.20 percent, respectively.
Total turnover at BSE and NSE fell further to Rs 9,343.92 crores and Rs 52,934.76 crore, respectively, from the last weekend's level of Rs 10,000.33 crore and Rs 59,932.62 crore.
Both the stock exchanges, BSE and NSE, were closed on September 9 on account of "Ganesh Chaturthi".
First Published: Saturday, September 14, 2013, 16:24