Seventh straight week of gains for Sensex last week

Monday, March 29, 2010
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Mumbai: Benchmark indices for Indian equities gained for the seventh straight week although the rally showed signs of slackening in what was a truncated week of trade. The markets were closed Wednesday on account of Ram Navmi. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) moved up a modest 66.53 points or 0.38 percent to end at 17,644.76 points Friday. The broader S&P CNX Nifty of the National Stock Exchange (NSE) too posted gains to end the week at 5,282 points, up 19.2 points or 0.36 percent. Data with market watchdog Securities and Exchange Board of India (SEBI) showed that foreign funds bought scrips worth $492.32 million during the four trading days. Mid-sized scrips saw very little changes compared to last week's closing, with the BSE midcap index ending almost unchanged Friday. Lesser valued stocks, however, came under selling pressure with the BSE small cap index ending 0.79 percent lower. Among top gainers in the Sensex were HDFC Bank (up 7.2 percent), Reliance Power (up 4.7 percent), Hindustan Unilever (up 4.2 percent), Cipla (up 3.4 percent) and ONGC (up 2.2 percent). Top losers included DLF (down 5.8 percent), Tata Motors (down 4.3 percent), ACC (down 4 percent), HDFC (down 3 percent) and Reliance Capital (down 2.5 percent). According to the BSE, the sectors that attracted interest were healthcare (up 2.6 percent) and banking (up 1.9 percent). Realty, however, was in a downward trend with its BSE sectoral indices ending 4 percent lower. Other Asian markets were a mixed bag for the week. The Japanese Nikkei added 1.59 percent to its previous week's tally to touch 10,996.37 points. However, the Hang Seng of the Hong Kong Stock Exchange fell 1.49 percent at 21,053.11 points, and the Chinese Shanghai composite index dipped 0.26 percent at 3,059.72 points. In Europe, buying sentiments were dominating with the London's FTSE rising 0.94 percent over the week to end at 5,703.02 points, while the German DAX closed 2.3 percent higher at 6,120.05 points. The French CAC 40 also closed the week in the green, up 1.62 percent at 3,988.93 points. In the US, the Wall Street had a good week. Benchmark indices such as the Dow Jones industrial average rose 1.01 percent at 10,850.36 points, the Nasdaq gained 0.87 percent at 2,395.13 points, and the Standard and Poor's 500 moved up 0.58 percent at 1,166.59 points.
Source: IANS
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