Mumbai, Sep 29: The Bombay Stock Exchange (BSE) Sensex hiked smartly 726.87 points or 4.39 per cent to 17,291.10 in the week ended yesterday, after hitting an all time high of 17,361.47, on the back of strong capital inflows from foreign institutional investors (FIIs), brokers said.
''The market rallied further last week with the barometer index crossing 17,000 mark and Nifty 5,000 level as investors bet on another cut in interest rate by the US Federal Reserve next month after data showed sluggish housing sales and consumer confidence in the US. Strong FII buying boosted bourses. Sensex moved up in all the five trading sessions in the week,'' market analysts said.
The National Stock Exchange (NSE) S&P CNX Nifty hardened by 183.8 points or 3.79 per cent at 5,021.35 in the week and hit an all time high of 5,055.80 yesterday.
BSE Mid Cap rose 222.51 or 3.09 per cent to 7,422.43, while the BSE Small Cap index rose 204.63 points or 2.3 per cent to 9,099.93 in the week. Both these indices underperformed the Sensex.
Annual inflation based on the wholesale price index (WPI) has further fallen to 3.23 per cent in the week ended Sept 15 from 3.32 per cent in the previous week. The market estimate was 3.47 per cent for the week ended Sept 15. Inflation was at 5.27 per cent in the corresponding week last year. The fall in inflation is driven by decline in prices of fruits and vegetables, eggs, fish-marine and pulses.
The 30-scrip Sensex hit 17,000 on Wednesday. It took just 5 trading sessions for the Sensex to reach 17,000 from 16,000 after the barometer index first struck 16,000 on Sept 19. The Sensex's 1,000-point surge was the fastest ever. The previous record for the shortest 1,000-point journey was 19 days when the Sensex soared from 11,000 to 12,000 in March 2006.
Among sectoral indices, BSE Realty index tanked, while BSE Auto Index, BSE Capital Goods Index, BSE Oil and Gas Index, BSE TecK index, BSE Consumer Durables index, BSE FMCG Index and BSE Health Care Index edged up. They however, underperformed the Sensex. But the BSE Bankex, BSE IT Index, BSE PSU index and BSE Metal Index surged ahead to outperform the market in the week.
The BSE Sensex rose by 281.60 points to 16,845.83 on Monday, on steady buying demand for index pivotals throughout the day, Turnover was healthy and it crossed Rs 7,500 crore on BSE. It then gained 53.71 points at 16,899.54 on Tuesday. The benchmark index was up 21.85 points at 16,921.39 on Wednesday, settling with small gains on selective buying in index pivotals. It was then up 229.17 points at 17,150.56 on Thursday, as the market surged at the fag end of the trading session to touch new all time high, on short-covering ahead of expiry of this month's derivatives contracts. Finally, Sensex was up 140.54 points at 17,291.10 on Friday, following a strong rollover from this month's futures to next month's futures and a greater than expected fall in inflation figures.
Reliance Energy (REL), NTPC, Maruti Suzuki India, Bharti Airtel, Bhel, Reliance Industries (RIL), Satyam Computers, Infosys, TCS, Wipro, Tata Steel, SBI, ICICI Bank and Hindalco Industries were the other gainers from the Sensex pack.