Sensex gained 4.2 per cent and closed at 19,594 during the week, while Nifty ended the week at 5,884 were up by 4.3 pc over its previous weekend"s close. During the week BSE Mid-cap gained 0.7 per cent and Small-cap indices was down by 0.1 pc respectively.
All the BSE sector indices closed in Green during the week. The BSE Bankex and Oil & Gas indices were the top gainers among sector indices by 5.9 pc and 5.5 pc respectively.
As per the market watchers, benchmark indices are likely to start the week on a firm footing. This rally is expected to continue even in Mid and Small-cap stocks.
It is further expected that, fund inflows will continue until US Fed and the European Central Bank raise the interest rates. A weak outlook on the dollar is also prompting many foreign investors to take an exposure to Indian equities.
Suzlon to expand wind turbine capacity in China
Suzlon Energy plans to expand capacity at its plant in China as the Company expects to return to profit this financial year. It will manufacture turbines capable of generating a combined 1000 MW in China by 2013. As per the Company reports, China will remain the largest market for the next 10 years.
Suzlon is competing for orders with General Electric and European companies in introducing newer technology in China, which is one of the fastest growing green energy markets. The country plans to add 18 GW of wind capacity this year. But Suzlon is looking to form partnerships with Chinese companies to develop offshore wind projects using 5MW and 6MW turbines.
Maruti gears up its production 10 pc more from Oct 2010
Maruti Suzuki India is likely ramp up its output by 10 pc to produce over 1,10,000 units every month from October. With this level, the Company"s annual production will cross 1.3 million units in 2011-12, compared to about 1.2 million units planned for this financial year.
As per the industry sources, Maruti Suzuki India has started work for increasing its production from last month and it plans to scale up the same to beyond 1,10,000 units a month from the current level of about 1,00,000 units.
Nasscom may pick up 5 pc stake in NSDC
Nasscom is likely to pick up a 5.1 pc stake in the National Skill Development Corporation (NSDC), an organization set up by the Union finance ministry to lift private sector participation in man power training in 21 sectors identified by the government. Nasscom will finalize the equity pact with NSDC. NSDC has an equity base of Rs 10 crore, of which center accounts for 49 pc, and the rest holds by the private sector.
The private sector holders include chambers like Ficci, Assocham, CII, Credai, Confederation of Indian Textile Industry, Gems & Jewelery Export Promotion Council, Council of Leather Exports and the Society of Indian Automobile Manufacturers. Nasscom keenness for the NSDC pie comes at a time when the IT industry is facing an acute shortage of trained manpower.
Exports up 22.5 pc imports grow faster at 32.3 pc
Exports grew 22.5 pc to $16.6 billion in Aug 2010, while strong demand for inputs and capital goods from the domestic economy saw imports increase 32.3 pc to $29.7 billion. Trade deficit is widened to $13.5 billion, forcing the commerce ministry to revise the projection for the year to an all time high of $135 billion.