Mumbai, Nov 17: The BSE Sensex surged ahead by 790.76 points or 4.18 per cent (pc) ended high at 19,698.36 in this week ended Friday, while S&P CNX Nifty index of NSE also rose by 243.6 points or 4.3 pc to 5,906.85 in the week due to sustained bull support from FIIs and local financial institutional investors.
Borkers said that '' Disappointing industrial production data for September 2007 pulled down the markets at the start the week. But the market rebounded with a bang later on easing political worries.
Market later pared gains on profit bookings and as the US sub-prime mortgage crisis continued to haunt global equity markets. Market gained in 2 out of 5 trading sessions till November 16 2007.
The BSE Small Cap index rose by 623.85 points or 6.39 pc to 10,380.73. BSE Mid Cap advanced by 498.75 points or 6.22 pc to 8,512.38.
BSE Auto index was up by 1.47 pc to 5,284.01, but BSE IT was down by 2.21 pc to 4,159.12, however, BSE Metal index was up by 3.76 pc to 17,498.20 and BSE Realty rose by 4.07 pc to 10,521.84 underperformed sensex.
BSE Bankex was up by 7.74 pc to 11,003.05 followed by BSE Capital Goods index by 5.02 pc to 20,643.71, BSE Power index by 4.66 pc to 4,591.97 and BSE Oil&Gas by 7.26 pc to 12,479.56 outperformed sensex.
The BSE Sensex ended down by 170.33 points or 0.90 pc to 18,737.27 on Monday, (November 12 2007). Disappointing industrial production data for September 2007 and weak global markets weighed on sentiments. Realty, IT and oil&gas stocks were major contributors in decline. FMCG, power and PSU stocks ended high, brokers added.
The 30-share BSE Sensex rose by 298.21 points or 1.59 pc to 19,035.48 on Tuesday, November 13. The market surged on value buying after a sustained slide over the past six days in a row. Reports said that the Left front may allow the government to negotiate safeguards for a civilian nuclear agreement with the US, aided the surge. Volatility was high throughout the trading session.
Infosys edged lower, in volatile trade. Banking, capital goods and power stocks edged higher.
The 30-share BSE Sensex ended up 893.58 points or 4.69 pc to 19,929.06 on Wednesday,( November 14 2007). Sensex registered its biggest intra-day absolute gains on the back of strong global cues and huge gains in index heavyweights Reliance Industries and ICICI Bank. Banking, oil&gas, IT and metal stocks were star performers.
The market spurted as worries about the US credit crisis eased after several top US executives reassured investors that the US banking system could withstand shocks from credit-related losses.
The 30-share BSE Sensex lost by 144.17 points or 0.72 pc to 19,784.89 on Thursday, (November 15 2007). The market sentiment was cautious due to persistent worry that more fallout from the US housing downturn and US credit crunch lies ahead, as stocks dropped across Asia. Weakness in banking, IT and power stocks pulled the sensex down 205.86 points for the day at one point of time in the day to a low of 19,723.20.
The 30-share BSE Sensex ended down 86.53 points or 0.44 pc at 19,698.36 on Friday, ( November 16,2007). Market swayed between gains and losses throughout the trading session. Banking and power stocks declined. Cement and consumer durables stocks were in demand.
ITC rose by 21.46 pc to Rs 205.15 in the week on reports that it has approached Parle Products to buy out the latter's confectionery business.
Reliance Communications lost by 0.25 pc to Rs 707.80 in the week on reports it has submitted a bid for 51 pc stake in Kenya's state-run telecom giant Telkom Kenya.
Reliance Industries rose by 5.12 pc to Rs 2,875.70 in the week after it executed two production sharing contracts covering petroleum exploration activities in the Kurdistan region of Iraq.
Further, its wholly owned subsidiary signed a production sharing agreement with the government of Oman for offshore block number 41 in Oman.
State bank of India rose by 7.54 pc to Rs 2,325.60 in the week on reports that the Union Cabinet is likely to take a call by 22 November 2007 regarding the bank's proposed plan to raise about Rs 18,000 crore through a rights issue.
Reliance Energy declined by 0.67 pc to Rs 1,825.70 on BSE, on reports its subsidiary Reliance Power is close to bag a 4,000-mega watts Krishnapatnam ultra mega power project in Andhra Pradesh.
India's biggest power generation firm by revenue National Thermal Power Corporation (NTPC) jumped by 9.51 pc to Rs 264.30. As per reports, it is one of the bidders who have submitted bids for setting up the 4,000 mega watt Tilaiya ultra mega power project in Jharkhand, dealers informed.