Sensex almost flat with marginal gains of 15.85

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Mumbai, Jul 12: The barometer index of Bombay Stock Exchange (BSE) rallied by 15.85 points or 0.12 per cent to 13,469.86 in the week ended yesterday.

Similarly, the S &P CNX Nifty index of National Stock Exchange (NSE) edged up 33 points or 0.82 per cent to 4,049 in the week. The market shrugged off the decision of the Left Front to withdraw their support to the Congress-led United Progressive Alliance government on the hopes this would give government an opportunity to kickstart the stalled economic reforms which Left had opposed for four years.

However, a surge in crude oil prices, disappointing industrial production data and inflation climbing to more than a 13-year high at the end of week played the spoilsport paring earlier gains of the week with the market ending with marginal gains in the week. BSE Sensex fell in 3 out of 5 trading sessions.

The BSE Mid-Cap index added 87.10 points or 1.65 per cent to 5,365.34, while the BSE Small-Cap index rose 263.99 points or 4.09 per cent to 6,713.66.

Foreign institutional investors (FIIs) sold shares worth Rs 1,012.20 crore till July nine. FIIs sold shares worth Rs 26,477.50 crore in the calendar year 2008 upto the week ended yesterday.

Mutual funds have bought shares worth Rs 712.30 crore in the month of July 2008 so far.

Investors refrained building large positions ahead of the weekly inflation data and Index of Industrial Production (IIP) data for May 2008 to be released by the government on yesterday.


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