Sensex soared 5.45 pc during the week
Mumbai,
Dec
29:
Indian
stock
market
bounced
back
to
end
with
a
gain
of
1,044.38
points,
or
5.45
per
cent,
in
the
week
ended
December
28,
amid
sustained
volatility
triggered
by
simmering
global
cues.
After a sharp down slide of about 4.5 per cent in the preceding week, the Bombay Stock Exchange (BSE) sensitive index marked a strong recovery to end the week at 20,206.95, gaining 1,044.38 points over its last weekend's close of 19, 162.57. Similarly, broader based Nifty of the National Stock Exchange (NSE) climbed 313.20 points, or 5.43 per cent, to close the week at 6,079.70 from previous weekend's close of 5,766.50.
The market breadth remained strong throughout the week on the back of strong support from the BSE mid-cap and small-cap indices.
The Sensex registered the biggest 691.55 point jump in this month on Monday, as the market observed sustained buying by investors in the blue-chip pivotals.
The market also cheered a comfortable victory for Bharatiya Janata Party (BJP) in the Gujarat Assembly election, which helped to calm fears of early polls in the country. It further got a boost from reports that the government has allowed all trusts to invest in securities, including shares and bonds of listed companies.
Sensex gained in 3 out of 4 trading sessions in the week. However, Sensex ended the week in red with a marginal loss on rising worries over geopolitical conditions after the assassination of former Prime Minister of Pakistan Benazir Bhutto on Thursday, traders said.
The BSE mid-cap index rose 549.03 points or 6.08 per cent to 9,574.57, while small-cap index of BSE surged 1,087.97 points or 9.2 per cent to 12,901.29. It hit an all time high of 12,909.82 on December 28. Sensex rose 691.55 points or 3.61 per cent to 19,854.12 on Monday. Bharti Airtel spurted. Reliance Industries edged higher.
Reliance Energy hit all time high. The market breadth was strong.
It jumped 338.40 points or 1.70 per cent to cross the psychological level of 20K, ended at 20,192.52 on Wednesday, led by rally in index heavyweight, Reliance Industries. The 30-share BSE Sensex ended up by 24.20 points at 20,216.72 on Thursday. The market swayed between gains and losses before finally ending in red at 20,206.95 on the last trading session of the week.
Wipro
jumped
7.76
per
cent
to
Rs
529.95
on
reports
that
it
may
bid
for
France's
Capgemini
by
the
end
of
January
2008
in
a
deal
valuing
the
latter
at
around
USD
7
billion.
Capgemini
is
a
global
leader
in
consulting,
technology
and
outsourcing
services.
However,
Wipro
denied
these
reports.
UNI