Stocks on high, Q4 results, inflation data awaited | business | Hindustan Times
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Stocks on high, Q4 results, inflation data awaited

Keeping up the four week-gaining streak driven by foreign inflows, the benchmark Bombay Stock Exchange Sensex and National Stock Exchange Nifty rose to 28-month highs on the special trading session organised today.

business Updated: May 12, 2013 21:46 IST
HT Correspondent

Keeping up the four week-gaining streak driven by foreign inflows, the benchmark Bombay Stock Exchange Sensex and National Stock Exchange Nifty rose to 28-month highs on the special trading session organised on Saturday.

Foreign fund inflows, upcoming inflation data and quarterly results of ITC, Bajaj Auto and United Spirits will determine the course of markets this week.

The 30-stock Sensex gained 40 points to 20,122 and the broader NSE Nifty gained 12 points to 6,107 in Saturday’s special session trade between 11.15 am and 12.45 pm, held as part of upgrading NSE's hardware and software systems. The BSE held the special session from its disaster recovery site.

After the record high foreign institutional investment (FII) in 2012-13 at Rs 1.4 lakh crore, the steady stream continues to drive the domestic equity markets as FII net investment touched Rs 13,000 crore this year so far. Going forward, analysts say, FIIs hold the key.

A host of companies including blue chip stocks ITC, Bajaj Auto and Dr Reddy will announce quarterly earnings this week. Inflation data on Tuesday is also keenly awaited.