While Sensex moved up, National Stock Exchange's (NSE's) Nifty index declined during the week. Nifty declined 74.20 points, or 1.18 per cent, to 6,200.10 in the week. However, both the key indices struck all-time intra-day highs. BSE small-cap and mid-cap indices underwent a major correction ever since they hit all-time high on January 8. Volatility was high throughout the week.
The BSE Mid-Cap index lost 674.58 points or 6.67 per cent to 9,438.48 in the week. While, small-cap index declined 1190.09 points or 8.57 per cent to 12,694.02 in the week. Both these indices underperformed the Sensex. BSE Sensex booked a smart gain of 125.76 points to 20,812.65 on selective buying in index pivotals in the first session of the week on Monday, January 7.
Buying support followed the second day with Sensex gaining 60.68 points to 20,873.33, a record closing high. The BSE mid-cap index struck an all time high of 10,245.81 while the small-cap index hit an all time high of 14,239.24 on that day.
It declined 3.55 points to 20,869.78 after a choppy session on January 9, 2008. The broader CNX S &P Nifty lost 15.85 points or 0.25 per cent to 6,272.
The 30-share BSE Sensex slid 287.70 points to 20,582.08 on January 10, on profit booking in index pivotals. It hit a record high of 21,206.77 in mid-morning trade.
The market showed volatile swings on January 11. Sensex surged 245.37 points to 20,827.45, led by heavyweights Reliance Industries and ICICI Bank.
Frontliner stocks, Reliance Industries advanced 4.77 per cent to Rs 3128.15. ICICI Bank surged 12.02 per cent to Rs 1439.90 on reports the bank will list at least four arms starting with ICICI Securities in next six months though board is yet to decide on securities arm listing.
Infosys Technologies declined 6.77 per cent to Rs 1580.10 in the week. Tata Motors was down 2.80 per cent to Rs 762.45 in the week.
The company unveiled Rs one lakh car christened as Nano on 10 January . Tata Motors will commercially launch Nano in the second half of 2008.
Engineering and construction major Larsen&Toubro (L&T) declined 1.63 per cent to Rs 4175.10 in the week. It secured two major contracts from Cairn India for its project located near Barmer in Rajasthan.
Bharat Heavy Electricals (Bhel), declined 4.34 per cent to Rs 2435.15 in the week. The company signed a joint venture agreement with NTPC for establishment and operation of a joint venture company for taking up engineering, procurement and construction business.
Mahindra&Mahindra slipped 5.87 per cent to Rs 774.75 in the week. It acquired the business of G R Grafica Ricerca Design (GRD), an Italian auto designing, body engineering and feasibility and styling company based in Turin, Italy.
FII inflow in calendar year 2008 amounted to Rs 3176.70 crore by January 10. Mutual funds bought shares worth a net Rs 1473 crore in the first few days of the New Year.