Mumbai, Apr 05 UNI | 4 months ago

The equity market registered a marginal gain as BSE sensex rose by 19.53 points to 22,359.50 in the week ended yesterday as investors pared positions in blue-chips such as Reliance Industries.

It had scaled a record high of 22,620.65 in intraday trade on Thursday. The Nifty of National Stock Exchange (NSE) fell marginally by 1.55 points to 6,694.35.

Caution is starting to set in after a record-setting rally as India is set to kick off a five-week election process on Monday, while US jobs monthly data later in the day could impact global markets. Hopes for a recovery in the economy have also played a role.

Foreign investors have been heavy buyers of Indian shares, adding USD 119.11 million worth of cash shares on Thursday, and bringing the total since February-end to about USD 3.5 billion.

The S&P BSE Mid-Cap index rose by 187.33 points to 7,197.62 and the S&P BSE Small-Cap index gained by 265.99 points to 7,265.05.

Both these indices outperformed the Sensex. The market gained in three out of five trading sessions in the week just gone by. Key benchmark indices edged higher on first trading day of the week on Monday with the market sentiment boosted by data showing that foreign institutional investors (FIIs) made substantial purchases of Indian stocks on Friday.

The S&P BSE Sensex garnered 46.30 points to settle at 22,386.27.

Trading for the new financial year on Tuesday, began on positive note as key benchmark indices edged higher on firm Asian and European stocks. The S&P BSE Sensex garnered by 60.17 points to settle at 22,446.44.

Indian stocks extended their recent strong gains on Wednesday as gains in European and Asian stocks boosted sentiment on the domestic bourses.

The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, hit record high on intraday basis as well as on closing basis.

The BSE Sensex advanced by 105.05 points to 22,551.49 points or 0.47 pc to settle at 22,551.49, a record closing high for the barometer index.

The market got a brake on Thursday, as the sensex fell by 42.42 points to 22,509.07. after the result of a survey showed that business activity in the Indian private sector fell in March 2014,after a fractional increase in February 2014. On Friday, it further slipped by 149.57 points to 22,359.50, as investors turned cautious ahead of beginning of the 9-phase Lok Sabha elections on Monday.

Among the 30-share Sensex pack, 16 stocks gained and rest of them declined in the week ended yeserday.

Index heavyweight Reliance Industries (RIL) gained by 3.28 pc to Rs 944.20. The stock had scaled a 52-week high of Rs 962.20 in intraday trade on Thursday.

Banks stocks declined. HDFC Bank was down by 2.66 pc and ICICI Bank declined by 2.25 pc. Axis Bank dropped by 2.26 pc.

The Reserve Bank of India left key policy rates unchanged after monetary policy review on Tuesday.

Shares of engineering and construction major L&T shed by 0.86 pc.

Sesa Sterlite rose by 3.85 pc. Hindalco Industries surged by 5.6 pc to Rs 137.65. The stock had hit 52-week high of Rs 142.80 in intraday trade on Tuesday.

Tata Steel gained by 5.51 pc. Bharti Airtel shed by 0.39 pc. Wipro rose by 0.31 pc. Coal India declined by 1.36 pc. Tata Motors gained by 2.18 pc. Mahindra & Mahindra (M&M) gained by 3.08 pc to Rs 997.05. Hero MotoCorp rose by 0.06 pc.

(Posted on 05-04-2014)