Sensex maintains winning streak, gains 147 points

Mumbai, Nov 18: For this week ending Friday (November 17), the Bombay Stock Exchange (BSE) Sensex gained 147 points, an increase of 1.10 per cent, to settle at 13,429.48, on sustained heavy buying support from Foreign Institutional Investors (FIIs), stock brokers said today.

The Sensex maintained it's winning streak, as buying continued at higher levels. Strong FII-inflows and revision in earnings estimates by brokerages have fuelled the latest bull-run on the bourses.

The S&P CNX Nifty advanced 18 points, an upsurge of 0.47 per cent for this week ending Friday (17 November), to settle at 3,852.80, points.

On 13 November, the Sensex jumped 116.09 points to 13,399 as select blue-chips were in demand. It gained 26.50 points and rose to 13,425.50 on 14 November, as buying continued. On 15 November 2006, the Sensex again gained 43.87 points, settling at 13,469.37, due to good demand of banking and cement stocks.

Once again, on 16 November 2006, the Sensex finished 36.52 points higher, at 13,505.89, due to continued buying interest of banking and cement stocks.

Sensex lost 76.41 points yesterday, to settle at 13,429.48 on profit booking. It had struck an all time high of 13,678.04 in the opening trade.

Reliance Industries lost 2.35 per cent at Rs 1,258.10 for the week, after two brokerages downgraded the stock to 'underperform' from market performer citing stretched valuations and weakening fundamentals.

TCS rose 1.91 per cent for the week at Rs 1,091, amid reports that it had bagged a USD 100 million contract in the US. On 14 November 2006, block deals for an aggregate 85.05 lakh shares were executed in the scrip on BSE, at an average Rs 1,059 in early trade, constituting 0.8 per cent of TCS' equity capital of Rs 97.86 crore (face value Re 1 per share). Foreign fund HSBC Global purchased the shares from promoters, who hold 84 per cent in the company.

UNI