Weekly roundup: Buying pushes up Sensex 634 points
Indian equities markets seemed to have put negativity surrounding the Budget behind them as a key index moved up 634 points this week from its last weekly closing figure.
Mumbai: Indian equities markets seemed to have put negativity surrounding the Budget behind them as a key index moved up 634 points this week from its last weekly closing figure.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) rose 634.04 points or 4.3 percent over previous Friday`s close and ended trade at 15,378.96 points.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) followed the Sensex, moving up 4.4 percent from its last weekly close to end at 4,568.55 points.
Lesser market capitalised scrips did a little better with the BSE`s midcap index closing 5.41 percent higher than its previous weekly close, while the BSE smallcap index was up 6.5 percent.
Data with markets watchdog Securities and Exchange Board of India (SEBI) showed that foreign funds were net buyers during the week, having bought scrips worth USD 386.3 million.
Strong global cues and bullish sentiments over improved corporate earnings helped the Sensex gain 446 points Monday to close at 15,191.01 points.
Similarly, the Nifty closed 2.91 percent higher at 4,502.25 points.
Tuesday saw the Sensex reverse some of the previous day`s gains with investors booking profits, which resulted in the benchmark index losing 128.52 points or 0.85 percent to close at 15,062.49 points. The Nifty too closed lower at 4,461.8 points, down 0.9 percent.
Selling pressure in heavyweight stocks dragged the Sensex down 219 points Wednesday, after it rose more than 306 points during the day. It closed at 14,843.12 points. Similarly, the Nifty shut 1.57 percent lower at 4,398.9 points.
Buying of heavyweight stocks, particularly from realty, consumer durables and metal sectors, sent the Sensex soaring again, with the index gaining 387.92 points or 2.61 percent to close at 15,231.04 points Thursday.
The Nifty followed the Sensex to shut shop 2.84 percent higher at 4,523.75 points.
Markets shut shop on a positive note Friday, with the Sensex adding another 147.92 points or 0.97 percent to its Thursday`s closing figure and ending trade at 15,378.96 points.
The Nifty too added to its previous day`s tally to end at 4,568.55 points, up 0.99 percent.
The top gainers in the BSE Sensex were DLF (up 18.4 percent), Tata Motors (up 18.1 percent), Maruti Suzuki (up 16.7 percent), Tata Steel (up 12.8 percent) and Hindalco (up 11.3 percent).
Among the prominent losers on the Sensex were HDFC (down 4.3 percent), Ambuja Cements (down 3.1 percent) and BHEL (down 0.7 percent).