Sensex touches 13,844.78, up by 141 pts

Mumbai, Dec 2: The Sensex touched a new peak of 13,844.78, up by 141.45 points from the last close, during the week ended December 1 on the Bombay Stock Exchange (BSE).

The S&P CNX Nifty rose 46.75 points (1.18 per cent), to settle at a new high of 3,997.60, brokers said.

The market kept its rally intact as investors continued to mop-up shares at higher levels.

Trading for the week began on a firm note. On November 27, the Sensex jumped by 70.26 points, to reach a new closing at 13,773.59, partly on steady-to-firm Asian markets and partly due to short covering in the derivatives segment.

The Sensex plunged by 171.64 points, to close at 13,601.95, tracking weak global markets on November 18. The BSE Sensex rose marginally by 14.78 points, to close at 13,616.73 on November 29, amid a mixed trend in its constituents. On November 30, the Sensex finished with a gain of 79.58 points, at 13,696.31.

Sensex jumped by 148.47 points to close at 13,844.78 on December 1, a new closing following a smooth rollover of November contracts and the subsequent build up for December series, coupled with robust GDP figures.

Mutual funds were net sellers for the first four days of the week, to Rs 262.48 crore, while FIIs purchased shares worth Rs 265.40 crore during the same period.

The domestic economy grew by 9.2 per cent in the July-September quarter from a year earlier, higher than market expectations of 8.90 per cent, data released earlier today showed. The annual growth rate in the second quarter of the 2006/07 financial year was higher than the April-June rate of 8.9 per cent.

India's wholesale price index rose 5.45 per cent in the 12 months to November 18, higher than the previous week's annual rise of 5.29 per cent due to a rise in mineral and manufactured product prices, data showed on Friday.

Tata Power rose 1.32 per cent to close at Rs 598.10. The company reported 61 per cent growth in net profit for Q2 September 2006, to Rs 202.32 crore (Rs 125.67 crore). Total revenue rose 16.5 per cent to reach at Rs 1,279.17 crore, from Rs 1,097.21 crore. Software major TCS rose 2.85 per cent to close at Rs 1,183.30. TCS signed a 7-year deal worth USD 65 million for reorganising Somerfield's IT services. Somerfield is a leading UK-based, small-format food retailer.

Oil&refinery stocks slipped after the government announced a cut in retail prices of diesel and petrol by Re 1 and Rs 2, respectively, on Wednesday. Also crude oil prices moved near UDS 62 per barrel, leading to a further fall in these stocks. Indian Oil Corporation (down by 11.10 per cent to close at Rs 445.50), Hindustan Petroleum Corporation (down by 7.30 per cent to reach at Rs 289.75) and Bharat Petroleum Corporation (down by 9.15 per cent to close at Rs 342) declined.

Punj Lloyd jumped by 15.46 per cent to close at Rs 1,112. Punj Lloyd Group, a global infrastructure services provider, has bagged the order through Simon Carves, UK, a group company. The order is from PTT Polyethylene Company (PTT PE), a wholly-owned subsidiary of PTT Chemical Company, jointly with its partner Toyo Thai Corporation.

Ranbaxy Laboratories hiked by 0.10 per cent to close at Rs 385.60. The company on Friday announced the acquisition of Be-Tabs Pharmaceuticals, the fifth largest generics company in South Africa, for USD 70 million.

Car major Maruti Udyog added 4.45 per cent to Rs 952.60. In early trade on Friday, the car major reported selling 55,033 vehicles in November, a 16.1 per cent rise from a year earlier. The company said domestic sales rose an annual 20.7 per cent, to 52,574, but exports fell by 35.7 per cent to close at 2,459 units.

Godfrey Phillips surged 42.49 per cent to close at Rs 1,449.05, even as company denied rumours of a bonus issue and stock-split.

On November 28, Torrent Power (TPL), the umbrella company of the newly amalgamated generation, transmission and distribution businesses of the Torrent Group, settled at Rs 70.70 on BSE after listing at Rs 60 on BSE. Three companies- Torrent Power AEC (TPAL), Torrent Power SEC (TPSL) and Torrent Power Generation (TPGL)- were merged into TPL giving shape to a scheme of arrangement.

GE Shipping re-listed on November 27 at Rs 264.65, and settled at Rs 222.70 that day, compared to the last trading price of Rs 336.70 of November 7. The scrip was relisted after giving effect to a restructuring scheme, whereby its offshore services division has been demerged into a separate company, and will be listed separately at a later date.

On November 27, Lanco Infratech closed at Rs 241.40 on BSE, a marginal premium compared to the IPO price of Rs 240. Its public issue was oversubscribed nearly 12 times.

On November 30, Parsvnath Developers settled at Rs 526.30, compared to the IPO price of Rs 300 per share. The company's paid-up equity capital is Rs 181.60 crore, brokers said.

UNI