BSE Index gains 91 points for the week

Mumbai, Sept 16: The Bombay Stock Exchange Sensitive Index (Sensex) this week leapfrogged to conquer the 12k post lost on May 18, on the back of strong investor sentiment backed by FII fund flows and the declining crude oil prices which touched the 5 month low figure of US Dollar 63.02 per barrel mark.

Sensex rose 0.59 per cent for 91 points for the week and the S&P CNX Nifty rose 0.06 per cent over the previous week.

The week saw strong volatility as the index during the week dipped to a low of 11,550 from 11,950, as FIIs pulled out Rs 1,660 crore from the derivatives segment on Thursday and Friday. In the cash segment, there was a net FII outflow, to the tune of Rs 65.20 crore during the same sessions. However, the situation improved once the crude oil prices declined to five month low and also giving hopes that the Indian government will not increase the domestic fuel prices.The whole process is expected to mitigate the rising rate of inflation.

Amongst the sectoral indices on the BSE, Bankex rose 4.9 per cent for the week, Teck rose 1.3 per cent, whereas, Metals declined by 4.9 per cent and the Consumer Durables sector declined by 1.4 per cent.

FIIs invested in equities to the tune of Rs 985 crore for the first four days of the week (Monday to Thursday). Mutual funds bought Rs 412.46 crore in equities for the four days.

India's industrial production rose 12.4% in July from a year earlier, higher than expected, due to robust manufacturing and electricity output, government data released showed on Tuesday.

Sebi, too made amendments in the Sebi Foreign Institutional Investors (Second Amendment) Regulations 2006 to treat overseas-registered or incorporated pension funds, mutual funds, investment trusts, insurance companies, reinsurance companies, international or multilateral agencies, foreign governmental agency or a foreign central banks as FIIs.

UNI

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