Sensex up 1.89 per cent for the week

Mumbai, Sept 23 (UNI) The Bombay Stock Exchange gained 227 points or 1.89 per cent over the previous week, similarly the S&P CNX Nifty gained 65 points or 1.87 per cent over the previous weeks' close, as the crude price went below the US Dollar 61 per barrel mark, FII investment grew over the week and the Indian currency strengthened primarily against US dollar and also against other currencies.

Earlier in the week, confusion over Federal Reserves decision to increase the interest rates also led to some volatility in the market. The sensex fell 101 points on Tuesday on concerns of rate hike, besides the profit booking on concerns over possible sales by hedge funds due to steep fall in the crude oil price also led to sensex downfall.

However, on Thursday sensex once again gained 165 points, as investors stocked up equities ahead of the second quarter results and after the US Federal Reserve kept interest rates unchanged.

Sensex also got fillip on expectations that the RBI may keep short-term interest rates unchanged at its credit policy meeting next month. On Friday, though, the Sensex lost 37.49 points, taking cue from weak global markets FIIs have been net seller of Rs 1,296.5 crore in equities in four trading sessions, from Monday to Thursday, while mutual funds have sold Rs 15.76 crore worth of equities.

Amongst the sectoral indices on the BSE Engineering and construction major L&T was up 0.64 per cent. In the Health Care sector, Cipla rose 2.1 per cent for the week. However, Ranbaxy fell marginally by 0.06 per cent for the week.

FMCG giant Hindustan Lever rose 5.6 per cent for the week. In the Oil and Gas sector ONGC rose nearly 2 per cent for the week, whereas, Reliance Industries grew 1.2 per cent for the week.

Also, the IT stocks were in demand this week. Satyam rose 1 per cent for the week, Wipro rose nearly 2 per cent for the week and Infosys gained 1.1 for the week.

UNI VS PM SKB1951