Sensex soared 5.45 pc during the week

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Mumbai, Dec 29: Indian stock market bounced back to end with a gain of 1,044.38 points, or 5.45 per cent, in the week ended December 28, amid sustained volatility triggered by simmering global cues.

After a sharp down slide of about 4.5 per cent in the preceding week, the Bombay Stock Exchange (BSE) sensitive index marked a strong recovery to end the week at 20,206.95, gaining 1,044.38 points over its last weekend's close of 19, 162.57. Similarly, broader based Nifty of the National Stock Exchange (NSE) climbed 313.20 points, or 5.43 per cent, to close the week at 6,079.70 from previous weekend's close of 5,766.50.

The market breadth remained strong throughout the week on the back of strong support from the BSE mid-cap and small-cap indices.

The Sensex registered the biggest 691.55 point jump in this month on Monday, as the market observed sustained buying by investors in the blue-chip pivotals.

The market also cheered a comfortable victory for Bharatiya Janata Party (BJP) in the Gujarat Assembly election, which helped to calm fears of early polls in the country. It further got a boost from reports that the government has allowed all trusts to invest in securities, including shares and bonds of listed companies.

Sensex gained in 3 out of 4 trading sessions in the week. However, Sensex ended the week in red with a marginal loss on rising worries over geopolitical conditions after the assassination of former Prime Minister of Pakistan Benazir Bhutto on Thursday, traders said.

The BSE mid-cap index rose 549.03 points or 6.08 per cent to 9,574.57, while small-cap index of BSE surged 1,087.97 points or 9.2 per cent to 12,901.29. It hit an all time high of 12,909.82 on December 28. Sensex rose 691.55 points or 3.61 per cent to 19,854.12 on Monday. Bharti Airtel spurted. Reliance Industries edged higher.

Reliance Energy hit all time high. The market breadth was strong.

It jumped 338.40 points or 1.70 per cent to cross the psychological level of 20K, ended at 20,192.52 on Wednesday, led by rally in index heavyweight, Reliance Industries. The 30-share BSE Sensex ended up by 24.20 points at 20,216.72 on Thursday. The market swayed between gains and losses before finally ending in red at 20,206.95 on the last trading session of the week.

Wipro jumped 7.76 per cent to Rs 529.95 on reports that it may bid for France's Capgemini by the end of January 2008 in a deal valuing the latter at around USD 7 billion. Capgemini is a global leader in consulting, technology and outsourcing services. However, Wipro denied these reports.


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