Sensex up by 2.9 per cent for the week

Mumbai, Oct 14: The Bombay Stock Exchange sensitive index (Sensex) jumped 2.9 per cent for the week on the back of an all time high performance by index, riding the strong second quarter numbers and also due to falling crude oil prices. The S&P CNX Nifty too jumped 106 points to close at 3676.05, which though is 100 points away from its all time high.

The market is upbeat and feels the second quarter performance will beat all expectations and will come stronger giving more teeth to the sensex figures in the coming days.

Sensex opened the week with 32 point gain on Monday, however, the following days saw lot of skepticism as the second quarter results were to unfold on Oct 11, due to which the sensex closed flat by 2 and 10 points respectively on Tuesday and Wednesday. But with Infosys declaring Rs 929 crore net profit on Oct 11, the paradigm changed and sensex saw 184 points surge on Thursday and wrapped the week by going beyond the previous high mark of 12,671 reached last on May 11, 2006. Sensex on Friday closed with a 198 point gain and an all time high figure of 12,736.42.

Though not everyone was happy, many midcap buyers sobbed over the numbers, as they were still not to the May high levels. Experts say the upsurge at sensex is primarily driven by the heavyweights and the midcap and the smallcap scrips have been marginalized this time.

However, they also feel, it will not be long before they join the party.

For the week, software major Infosys jumped 11.5 per cent to close at Rs 2, 088.65, Tata Motors rose 1.90 per cent for the week to close at Rs 910.65, Hindustan Zinc soared 21 per cent for the week to close at Rs 717.55, Maruti Udyog wass up 1.6 per cent for the week to close at Rs 957.85, Index heavyweight Reliance Industries (RIL) rose 2.33 per cent for the week to close at Rs 1,190.15, and i-flex solutions rose marginally by 0.07 per cent for the week to close at Rs 1,443.20.

FIIs were the net investors of Rs 1,393.4 crore from Monday to Thursday and the Mutual Funds off loaded equities worth Rs 127.73 crore for the same period.

Inflation for the week crossed the psychological five per cent mark to 5.16 per cent, whereas the total foreign reserves were put at US Dollar 165.275 billion for the week ending Oct 06.

UNI