BSE Sensex: Markets settle with small gains

Mumbai, May 26: The Bombay Stock Exchange (BSE) 30-share Sensex added a nominal 34.59 points in the week ended May 25 this year to settle at 14,338.45, on account of mixed trend in index pivotals influenced by a host of local and global events.

Among the broader markets, National Stock Exchange (NSE) Nifty Index was up 33.65 points, or 0.79 per cent, to 4,248.15.

The week started on an upbeat note with the Sensex advancing 115.19 points to 14,418.6 on Monday, tracking firm Asian and European markets. The S&P CNX Nifty rose 46.40 points, or 1.10 per cent, to 4,260.90, an all-time closing peak before striking an all-time high of 4, 269.35 in intra-day trade. Shares from the oil&gas, metal and FMCG space were in high demand.

The Nifty struck a fresh all-time high of 4,281.60 on Tuesday, as strong buying for frontline pivotals continued. The Sensex rose 35.12 points, or 0.24 per cent, to 14,453.72.

The Sensex fell 90.46 points to 14,363.26 on Wednesday as bulls took a breather and liquidating positions in the last hour of trade.

Except for selective buying interest seen in the metal and capital goods sector, shares from the auto, FMCG, oil&gas and banking sectors declined on profit taking.

Profit booking continued a day later on Thursday, with the Sensex dipping a sharp 145.15 points to 14,218.11.

On Friday, the Sensex staged a smart intra-day reversal to end with a 120.34 point spurt to 14,338.45. Short covering triggered the rally in the second half of the day's trading session.

Reliance Industries (RIL) advanced 1.61 per cent to Rs 1,726.75.

State-run power generation major NTPC rose 5.20 per cent to Rs 163.80. State Bank of India (SBI) edged lower by 2.06 per cent to Rs 1298.20. Tata Steel advanced 5.63 per cent to Rs 624.35.

Tata Motors slipped 2.15 per cent to Rs 726.80. Bajaj Auto slumped 5.08 per cent to Rs 2170.65. Public sector unit (PSU) engineering major BhEL rose 3.11 per cent to Rs 2702.15.

India's wholesale price index rose 5.27 per cent in the 12 months to 12 May 2007, lower than the previous week's increase of 5.44 per cent due to a drop in textiles and food product prices, official data revealed on Friday. The figure was marginally higher than the market's expectation of 5.24 per cent, analysts said.

UNI