Sensex rises 305 points during week
Indian equities markets rose during the week with a benchmark index gaining 305 points. Latest data showed industrial output soared in November while food inflation remained in the negative.business Updated: Jan 14, 2012 15:23 IST
Indian equities markets rose during the week with a benchmark index gaining 305 points. Latest data showed industrial output soared in November while food inflation remained in the negative.
The positive news on the economic front gave strength to hopes that the Reserve Bank of India could lower interest rates in the coming monetary policy review Jan 24.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) rose 1.93 percent or 305.82 points points in the weekly trade and closed Friday at 16,154.62 points.
At the National Stock Exchange, the 50-scrip S&P CNX Nifty moved up 2.35 percent or 111.9 points to close the week at 4,866 points.
Both the benchmarks have gained for the second consecutive week.
During the week under review, broader market indices too gained with the BSE 500 index rising 3.44 percent. The BSE midcap index went up by 5.37 percent while the BSE smallcap index rose 7.12 percent.
"While the Sensex gains appear modest, the midcap and small cap indices have done much better during the week. Capital goods, infrastructure, and power sectors were among the major outperformers for the week," said Sanjeev Zarbade, vice president of client group research Kotak Securities.
Asian markets closed in the green as successful Italian and Spanish bond auctions heped alleviate concerns about the European debt crisis.
For the week, the Japanese Nikkei closed 1.31 percent higher at 8,500.02 points, while the Chinese Shanghai composite index rose 3.75 percent at 2,244.58 points.
Hong Kong's Hang Seng moved up 3.29 percent and ended at 19,204.42 points.
European markets closed mixed.
Britain's FTSE 100 fell 0.23 percent to close the week at 5,636.64 points.
The German DAX gained 1.41 percent to end at 6,143.08 points, while the French CAC 40 shot up 1.88 percent to close at 3,196.49 points.
In the US, markets rose for the second consecutive week with benchmark indexes touching five-month highs on Jan. 12.
For the week, the US Dow Jones Industrial Average closed 0.5 percent up at 12,422.06 points, while the S&P 500 index closed 0.88 percent higher at 1,289.09 points.
The Nasdaq moved up 1.36 percent to end at 2,710.67 points.