Indian equities up 2% w-o-w; realty, energy scrips shine
After trading weak for most parts of Friday's session, the benchmark indices recouped early losses in the last half hour of trade to end marginally up led by gains in energy and technology stocks. Sensex ended 19.30 points higher to close at a two-year high of 19,748.08. The 50-share Nifty also closed at a new two-year high of 6,016.15, gaining 6.65 points on Friday. Both indices gained nearly 2% during the week.
Foreign institutional investors continued with the buying spree in Indian equities. According to provisional data, FIIs net bought $211.42 million worth of Indian equities on Friday, thereby taking the week's tally to $1.04 billion.
Further, in the first four days of the new year, FIIs have net bought $881 million worth of Indian equities.
According to market players, traders took money off the table after minutes of the Federal Reserve's December policy meeting late on Thursday to scale back US’ stimulus measures sparked concerns in global markets. Excluding Japan, most Asian indices ended down nearly 1% Friday, while most European indices were also trading down by nearly 1% at the time of going to the press.
Meanwhile, gains in Indian markets were largely supported by positive cues from global markets after the US lawmakers struck a last-minute deal to avoid middle-class tax increases and spending cuts that would
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