Bulls remain steady this week, closes 125 pts up

Mumbai, June 24: This week, the investors' confidence marginally returned back, as the sensex saw a steady bull run, which was noticeable in the final rally on Friday, when the BSE Sensitive index closed 125 points above the previous close.

The performance was primarily driven by strong global markets, Controlled inflation and interest rates in US, and the confidence of investors in the domestic markets.

The total turnover on the sensex was to the tune of Rs 3,042.78 crores.

For the week, the small cap index grew by 13.2 per cent, Metal index driven by London Metal Exchange grew 11.3 per cent, IT stocks were in huge demand and grew by six per cent, all IT companies like Wipro, Satyam and Infosys all grew between 4.5 to 7.0 per cent.

FIIs were the net buyers of Rs 370.90 crores, with total purchase of Rs 7812.70 crores, till Thursday and total sales of Rs 7441.80 crores.

Mutual funds continued to offload in the equity segment. They sold worth Rs 16.69 crore for the first three days of the week till Wednesday.

On the final day of the week Major gainers on the index were Reliance Industries (RIL) up by 4.10 per cent, at Rs 1,013.80 Software companies, Wipro was up by 6.97 per cent to Rs 480.10, Satyam Computers was up 2.75 per cent to Rs 703.70 and Infosys was up 1.65 per cent to Rs 3,000.

Oil exploration major, ONGC surged 5.26 per cent to Rs 1,119.55; Pharma major, Ranbaxy Laboratories, jumped 3.90 per cent to Rs 385.

Besides, the major losers on the index were Dr Reddy's Lab down 0.06 per cent to Rs 1,263, Hero Honda down by 1.5 per cent to 758.30 per cent, Hindalco was down 0.12 per cent to Rs 171.00, L&T was down by 1.62 per cent, NTPC was down by1.50 per cent to 15.10, SBI was down 1.38 per cent to Rs 762.65 Under these circumstances the invetors look optimistic and hope to make good their past losses.

UNI

Related Stories