1. Markets end in the green for 4th straight week

Markets end in the green for 4th straight week

Stock: In a holiday-shortened week, markets ended in the green for the fourth consecutive week following stronger-than-expected earnings from Reliance Industries, coupled with positive global markets triggered by the prospects of more stimulus for the euro zone economy from the European Central Bank.

By: | Mumbai | Published: October 24, 2015 2:42 PM
sENSEX Nifty

Stock: In a holiday-shortened week, markets ended in the green for the fourth consecutive week following stronger-than-expected earnings from Reliance Industries, coupled with positive global markets triggered by the prospects of more stimulus for the euro zone economy from the European Central Bank. (Photo: PTI)

Stock: In a holiday-shortened week, markets ended in the green for the fourth consecutive week following stronger-than-expected earnings from Reliance Industries, coupled with positive global markets triggered by the prospects of more stimulus for the euro zone economy from the European Central Bank.

Persistent foreign capital inflows also boosted sentiment.

Shares of IT, technology, FMCG and power sectors firmed up on good buying enquiries.

The Sensex resumed higher at 27,305.62 and hovered in a range of 27,555.06 and 27,190.55 before ending at 27,470.81, showing a gain of 256.21 points, or 0.94 per cent.

It has jumped 1,670.31 points, or 6.21 per cent, during the four weeks.

The 50-share Nifty also rose by 57.30 points, or 0.70 per cent, to 8,295.45. It has gained by 426.95 points, or 5.43 per cent, in four weeks.

Stronger-than-expected second quarter results from RIL, India’s second-biggest company in terms of market capitalisation, added to modest gains on the first trading session of the week on Monday.

After the conclusion of the European Central Bank’s (ECB) monetary policy meeting on Thursday, ECB President Mario Draghi indicated at a press conference that the Central bank could move next month to expand stimulus measures which cheered investors.

“Markets surged in line with its global partners which shot up on the back of stimulus hopes… A strong set of corporate earnings and Moody’s forecast of strong growth in India in 2015-16 boosted mood,” said Gaurav Jain, Director, Hem Securities. The foreign portfolio investors bought shares net Rs 1,935.34 crore during the week, as per Sebi’s record, which includes the provisional figure of October 23.

In the domestic market, 16 scrips out of the 30-share Sensex pack ended higher while 14 others finished lower.

Major gainers were Infosys (5.01 pc), Reliance Ind (4.79 pc), NTPC (4.58 pc), Axis Bank (4.13 pc), ITC (2.71 pc), BhartiAirtel (2.54 pc), TCS (2.43 pc), HDFC (2.19 pc), Bajaj Auto (2.02 pc) and HUL (1.96 pc).

However, L&T fell by 5.88 pc, followed by Vedanta Ltd (5.85 pc), M&M (3.29 pc), Hindalco (2.80 pc), ONGC (2.78 pc) and Tata Steel (2.61 pc).

Among the S&P BSE sectoral indices, IT rose by 2.92 pc, technology by 2.28 pc, FMCG by 1.71 pc, power by 1.21 pc, oil & gas by 0.62 pc while capital goods fell by 3.51 pc, metal by 0.88 pc and auto by 0.52 pc.

Small-cap and mid-cap indices rose by 23.58 points, or 0.21 pc, and 90.31 points, or 0.82 per cent, respectively, on sustained buying from retail investors.

The total turnover during the week on BSE and NSE fell to Rs 11,409.59 crore and Rs 64,377.19 crore, respectively, as against the last weekend’s level of Rs 14,043.10 crore and Rs 74,961.14 crore.

BSE and NSE were closed on Thursday, October 22, on account of ‘Dussehra’.

  1. No Comments.

Go to Top