MUMBAI: Extending the gaining streak for the seventh week in a row, the BSE benchmarkSensex gained nearly 541 points to end the week at over six-month high of 18,289.35 on hopes of cut in key policy rates by RBI after fall in overall inflation coupled with furious capital inflows.
On the global front, the European Central Bank (ECB) and European officials were moving closer to an agreement to end Greece's funding gap, which could clear way for approval of a second bailout as soon as Monday and also strong US economic data that spurred investors into riskier assets like equities.
Back home, headline inflation, measured by the Wholesale Price Index (WPI) dropped to 6.55 per cent in January, the lowest since December 2009 when it was 7.15 per cent, which may prompt the apex Bank to cut policy rates in the coming months.
On the global front, the European Central Bank (ECB) and European officials were moving closer to an agreement to end Greece's funding gap, which could clear way for approval of a second bailout as soon as Monday and also strong US economic data that spurred investors into riskier assets like equities.
Back home, headline inflation, measured by the Wholesale Price Index (WPI) dropped to 6.55 per cent in January, the lowest since December 2009 when it was 7.15 per cent, which may prompt the apex Bank to cut policy rates in the coming months.
As a result, interest rate sensitive realty, banking and auto stocks were in keen demand. Power, capital goods and consumer durable counters too attracted heavy buying.
Overall 12 out of 13 sectoral indices closed in the green between 0.44 per cent and 10.18 per cent while only BSE-Oil&Gas declined by 1.44 per cent following fall in the top heavyweight RIL on reports of a likely decline in gas output from the company's KG-D6 oil block in next fiscal.
The BSE benchmark Sensex crossed its 18K mark after a a gap of 6-1/2 month before ending the week at 18,289.35, showing a gain of 540.66 points or 3.05 per cent from its last weekend's level.
Previously, it had ended at 18,314.33 on August 1, 2011. It has risen by 2,834.43 points or 18.34 per cent in the straight seven weeks.
The NSE 50-share Nifty also shot up by 182.70 points, or 3.39 per cent, to finish above 5,500-mark, for the first time after August 1, 2011, at 5,564.30. In seven-week of gaining string, it has flared up by 940.00 points, or 20.33 per cent.
Strong buying by foreign funds was the main reason behind the current unprecedented rally. Foreign Institutional Investors (FIIs) bought shares worth Rs 4,518.09 crore, including provisional data of February 17, as against Rs 4,040.80 crore last week. There total investment was gone nearly a hefty 21K crore in the current calender so far.
After realty segment, power sector was the second top gainer after Prime Minister Manmohan Singh initiated clearance of coal supplies to power generation firms, as a result, Tata Powerjumped by 7.04 pct and NTPC by 4.34 pct.
From the 30-share sensex pack, 21 stocks ended in green while nine finished with losses.
Major gainers from the sensex were BHEL (16.67 pct), SBI (11.24 pct), DLF (10.03 pct), M&M (8.43 pct), Larsen (7.28 pct), Hero Motoco (7.11 pct), Tata Motors (6.53 pct), Infosys (6.03 pct), Maruti (6.00 pct), Jindal Steel (5.96 pct) and ICICI Bank (5.75 pct).
However, Cipla declined by 7.87 pct followed by Reliance Ind 2.88 pct, Coal india 2.04 pct, GAIL1.30 pct and Hindalco 1.24 pct.
Among the sectoral indices, the BSE-Realty was the top gainer with a rise of 10.18 pct followed byBSE-Power (8.54 pct), BSE-CG (7.90 pct), BSE-CD (7.76 pct), Bankex (6.25 pct), BSE-Auto (6.24 pct) and the BSE-IT (3.58 pct).
The BSE-Mid cap and the BSE-Small cap indices also shot up by 4.77 pct and 3.27 per cent respectively in view of persistent buying from retail investors.
The total turnover at BSE and NSE rose to Rs 18,859.93 cr and 82,432.92 cr respectively from the last weekend's level of Rs 17,236.16 cr and Rs 76,968.91 cr.
Overall 12 out of 13 sectoral indices closed in the green between 0.44 per cent and 10.18 per cent while only BSE-Oil&Gas declined by 1.44 per cent following fall in the top heavyweight RIL on reports of a likely decline in gas output from the company's KG-D6 oil block in next fiscal.
The BSE benchmark Sensex crossed its 18K mark after a a gap of 6-1/2 month before ending the week at 18,289.35, showing a gain of 540.66 points or 3.05 per cent from its last weekend's level.
Previously, it had ended at 18,314.33 on August 1, 2011. It has risen by 2,834.43 points or 18.34 per cent in the straight seven weeks.
The NSE 50-share Nifty also shot up by 182.70 points, or 3.39 per cent, to finish above 5,500-mark, for the first time after August 1, 2011, at 5,564.30. In seven-week of gaining string, it has flared up by 940.00 points, or 20.33 per cent.
Strong buying by foreign funds was the main reason behind the current unprecedented rally. Foreign Institutional Investors (FIIs) bought shares worth Rs 4,518.09 crore, including provisional data of February 17, as against Rs 4,040.80 crore last week. There total investment was gone nearly a hefty 21K crore in the current calender so far.
After realty segment, power sector was the second top gainer after Prime Minister Manmohan Singh initiated clearance of coal supplies to power generation firms, as a result, Tata Powerjumped by 7.04 pct and NTPC by 4.34 pct.
From the 30-share sensex pack, 21 stocks ended in green while nine finished with losses.
Major gainers from the sensex were BHEL (16.67 pct), SBI (11.24 pct), DLF (10.03 pct), M&M (8.43 pct), Larsen (7.28 pct), Hero Motoco (7.11 pct), Tata Motors (6.53 pct), Infosys (6.03 pct), Maruti (6.00 pct), Jindal Steel (5.96 pct) and ICICI Bank (5.75 pct).
However, Cipla declined by 7.87 pct followed by Reliance Ind 2.88 pct, Coal india 2.04 pct, GAIL1.30 pct and Hindalco 1.24 pct.
Among the sectoral indices, the BSE-Realty was the top gainer with a rise of 10.18 pct followed byBSE-Power (8.54 pct), BSE-CG (7.90 pct), BSE-CD (7.76 pct), Bankex (6.25 pct), BSE-Auto (6.24 pct) and the BSE-IT (3.58 pct).
The BSE-Mid cap and the BSE-Small cap indices also shot up by 4.77 pct and 3.27 per cent respectively in view of persistent buying from retail investors.
The total turnover at BSE and NSE rose to Rs 18,859.93 cr and 82,432.92 cr respectively from the last weekend's level of Rs 17,236.16 cr and Rs 76,968.91 cr.
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