Sensex up by 309 pts at 11,589.44
Today in New Delhi, India
Jan 20, 2019-Sunday
New Delhi
  • Humidity
  • Wind

Sensex up by 309 pts at 11,589.44

Notwithstanding Sensex's 157 pts dive, it extended weekly gains to seventh straight week by another 2.74%.

india Updated: Apr 08, 2006 12:24 IST

Notwithstanding the stock market's dive by 157 points after touching a life-time peak of 11,930.66 on April 7, it extended weekly gains to seventh straight week zooming by another 2.74 per cent on expectations of robust fourth quarter earnings amid sound market fundamentals.

In the brief four-session week to April 7, the market set new records day by day on the back of unabated fund inflows from all quarters with the sentiment accentuated by a liberal bonus issue by IT major Infosys Technologies.

The market saw hectic activity on Friday, following an announcement by Infosys that the board meeting to be held on April 14 may consider a bonus issue, and flared up to near 12,000 mark in early trade.

Eventually, the Bombay Stock Exchange (BSE) Benchmark 30-share Index (Sensex) swung in 366-point range after hitting an all-time intra-trade peak on Friday as strong speculations of the Securities and Exchange Board of India's (SEBI) ban on a few FIIs played a spoilsport leading to a sharp fall of 157 points over Wednesday's close.

Ultimately, the Sensex, which moved in a wide range of 11,930.66 and 11,342.96 and even set a new closing peak of 11,746.90 on Wednesday, ended the week at 11,589.44 from last weekend's close of 11,279.96, a net rise of 309.48 points.

The inflows from Foreign Institutional Investors (FIIs) and mutual funds, however, slowed down during the week. FIIs reported net investments of Rs 925.30 crore and local funds injected Rs 332.22 crore in the first three sessions of week.

Bulls, however, were extremely active having created large positions not only in blue chip stocks but also expanded activity to mid-cap and small-cap segments.

Finance Minister P Chidambaram's statement that inflation rate dipped below the four per cent mark to 3.96 per cent and was under control has only shown positive signals to the soaring stock markets.

The BSE Mid-cap Index and the Small-cap Index soared by 186.85 points or 3.48 per cent and 282.14 points or 4.28 per cent to end the week at 5534.77 and 6873.80 respectively.

Among other indices, the broad-based BSE-100 Index shot up further by 159.51 points to end the week at 6,063.68 from last weekend's close of 5,904.17.

The BSE-200 Index and the Dollex-200 were quoted sharply up at 1,451.91 and 541.63 at the weekend compared to previous weekend's close of 1,412.62 and 527.21 respectively.

The BSE-500 Index jumped by another 130.18 points to end the week at 4,646.91 from last weekend's close of 4,516.73 and the Dollex-30 ended the week sharply up at 2,131.96 from 2,075.96 at the last weekend.

On the National Stock Exchange (NSE), the S&P CNX Nifty and the S&P CNX Defty spurted further by 52.25 points and 36.35 points to close the week at 3,454.80 and 2,679.05 from last weekend's close of 3,402.55 and 2,642.70 respectively. The S&P CNX Nifty Junior leapt by 239.80 points to conclude the week at 6,651.90 from 6,421.10 at the preceding weekend.

The volume of business on the BSE and the NSE during the week fell sharply to Rs 20,191 crore and Rs 39,766 crore respectively.

First Published: Apr 08, 2006 12:24 IST