Markets extend gains for 3rd week in row, Sensex reclaims 26K

Mumbai: Equities marked the New Year-2016 on cheery note, wrapping-up with strong gains for third-week in row as the BSE-Sensex reclaimed the psychological 26K-level and the broader Nifty with key 7,900-level.

The thin year-end trading week was bridled by not so lucrative on market-bearing news as the rally mostly attributed to intense short-covering amid futures and option expiry-day on Thursday and buying in fundamentally strong shares.

The week also witnessed intermittent profit-booking at the higher-levels and prompted by fall-in eight-core sectors, it soon spruced-up on good bouts of value-buying.

Amid near-absence of definite cues from overseas as most of the international markets closed due to year-end holiday's, the RBI's informal assurance on curbs on lender banks amid weak corporate balance sheets and bad loans and Finance Minister's New-year wish-list on ensuring further ease in doing business with rolling out GST and rationalising direct taxes did perked-up investor's sentiment.

The Sensex resumed higher at 25,858.52 and traded between a high of 26,197.27 and low 25,856.86 before concluding the week at 26,150.80, showing a further gain of 312.19 points, or 1.21 percent. It had gained by 1,116.47 points, or 4.46 percent in three weeks.

The NSE 50-share Nifty also surged by 102.15 points, or 1.30 percent, to end at 7,963.20. It has also gained by 352.75 points, or 4.64 percent in three weeks.

Buying was mainly led by Realty, Power, Auto, PSU's, Oil&Gas, HealthCare, Banking and FMCG sectors. While shares of midcap and smallcap companies also performed well.

Foreign portfolio investors (FPIs) continued their buying spree during the week as they purchased net Rs 1,967.01 cr during the week as per the SEBI's record including the provisional figure of Jan 1, 2016.

Among the 30-share Sensex pack, 21 stocks rose and nine stocks declined during the week.

Major gainers were Tata Motors (5.03 percent), NTPC (3.85 percent), ONGC (3.61 percent), Coal India (3.57 percent), Adaniport (3.48 percent), Dr Reddy's Lab (3.17 percent), Sun Pharma (3.06 percent), Lupin (2.41 percent), HDFC (2.10 percent), Gail India (2.08 percent), ICICI Bank (2.02 percent), HDFC Bank (1.59 percent), ONGC (1.44 percent), ITC (1.38 percent) and Bharti Airtel (1.13 percent).

While, Tata Steel fell by 2.35 percent and BHEL 0.87 percent.

Among the sector and industry indices, Realty rose by 2.92 percent, Power 2.66 percent, Auto 2.34 percent, Oil&Gas 1.54 percent, Healthcare 1.31 percent and Bankex 1.26 percent.

Small-cap and Mid-cap indices also rose by 1.79 percent and 2.06 percent respectively in view of good buying from retail investors.

The total turnover during the week on the BSE and NSE rose to Rs 13,281.81 crs and Rs 75,637.11 crs respectively as against the last weekend's level of Rs 10,972.22 crs and Rs 55,905.22 crores