Sensex rises by 177 pts during week

Written by:
Subscribe to Oneindia News

Mumbai, Nov 29: The Bombay Stock Exchange 30-share Sensex rallied 177.51 points or 1.99 per cent at 9,092.72 in the week ended friday, amid fierce battle between security agencies and terrorists in the metropolis.

The S &P CNX Nifty index of National Stock Exchange rose 61.65 points or 2.28 per cent at 2,755.10 in the week, on some extended bull support by mutual funds and others. Expectations that the central bank would again cut interest rates to shore up a faltering economy, supported the market, which shrugged off terror attack on India's financial capital, amid edgy sentiment due to selling by foreign funds, a leading broker said.

However, volatility was high throughout the week ahead of the expiry of November future and options contracts, which was postponed by one day due to closure of stock markets on Thursday following terror attacks in business hub, including two landmark five-star hotel, of the financial capital.

Political uncertainty ahead of state elections also continued to weigh on the market.

The BSE Mid-Cap fell 30.90 points or 1.06 per cent at 2,885.76 and the BSE Small-Cap index shed 86.15 points or 2.54 per cent at 3,304.61. Both the indices underperformed the Sensex.

The barometer index BSE Sensex is down 11,194.27 points or 55.17 per cent in the calendar year 2008 so far, from its close of 20,286.99 on December 31, 2007. It is 12,114.05 points or 57.12 per cent below its all-time high of 21,206.77, struck on January 10, 2008.

BSE IT index was up 4.13 per cent at 2,558.94 followed by BSE Power index by 2.71 per cent at 1,631.69, FMCG index by 2.59 per cent at 1,936.60, Auto index by 1.1 per cent at 2,330.56, Bankex by 1.01 per cent at 4,645.40 outperformed the Sensex in the week.

IT pivotals rose on a weaker rupee, as they derive a lion's share of revenue from exports. Tata Consultancy Services was up by 10.17 per cent at Rs 558.05 and Wipro 5.87 per cent at Rs 243.30, Infosys 4.71 per cent at Rs 1,240.60 and Satyam Computer Services one per cent at Rs 243.

Bharat Heavy Electricals rose by 6.25 per cent at Rs 1,361.30 on reports of plans to acquire companies in the non-conventional energy and transmission segments. DLF gained by 0.03 per cent at Rs 198.25 on reports the global gaming and theme park leader Sega Corp is in talks with the company for a possible India entry. Reliance Industries hiked 0.38 per cent at Rs 1,131.60.

Tata Motors rose by 2.06 per cent at Rs 136.35. Bajaj Auto fell by 5.66 per cent at Rs 320.85 on reports that it is scaling down output and reducing the vendor base to manage costs. Maruti Suzuki India surged by 4.79 per cent at Rs 535.85.

Oil &Natural Gas Corporation gained by 0.77 per cent at Rs 695.35 on discovering oil in an oil block in Andhra Pradesh.

ICICI Bank rose by 4.72 per cent at Rs 351.40 and HDFC Bank by 7.44 per cent at Rs 920.40.


Please Wait while comments are loading...