Sensex ends up by 41 pts after two-week losing string | business | Hindustan Times
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Sensex ends up by 41 pts after two-week losing string

Despite high volatility the BSE benchmark Sensex managed to end in positive terrain after two-week losing string, in view of good Q2 results from key corporates, excellent response from Coal India IPO, sustained buying by foreign funds and fall in food inflation.

business Updated: Oct 23, 2010 13:35 IST

Despite high volatility the BSE benchmark Sensex managed to end in positive terrain after two-week losing string, in view of good Q2 results from key corporates, excellent response from Coal India IPO, sustained buying by foreign funds and fall in food inflation.

The Bombay Stock Exchange (BSE) 30-share bellwether index opened higher at 20,160.55 and hovered in a wide range of 20,351.74 and 19,822.66 before ending the week at 20,165.86, showing a net gain of 40.81 points or 0.20 per cent.

Buying was seen mainly in healthcare, oil and gas, capital goods and PSU counters. However, selling pressure was noticed in metal, realty and consumer durable counters.

The Initial Public Offer (IPO) of the state-run Coal India was over-subscribed 15.28 times and market participants expected the excess money, after getting return back, will get re-invested in equities.

Food inflation fell to 15.53 per cent for the week ended October 9 from 16.37 per cent in the previous week.

Volatility rose at the fag end of the week, as traders rolled over positions in the derivatives segment ahead of the expiry of the October 2010 contracts on 28 October 2010.

The initial batch of Q2 results announced so far have been good with the combined net profit of 307 companies rising 28.90 per cent on 19.80 per cent rise in sales in the quarter ended September 2010, over the quarter ended September 2009.