Market review: GAAR delay, oil reforms spur market, Sensex scales 2-year peak
State-run oil and gas major, ONGC, was the top gainer in the Sensex pack with a rise of 15.58 per cent. Petro-chem giant Reliance Industries (RIL) gained 7.11 per cent. Other gainers from the sensex pack were NTPC (7.67 pct), Bharti Airtel (7.38 pct), GAIL India (5.51 pct), ITC (4.95 pct), TCS (3.43 pct) and Infosys (2.85 pct).
However, M&M dropped by 5.90 pct, followed by Wipro 5.33 pct, Hero MotoCorp 3.75 pct, Sun Pharma 3.52 pct, Hindalco 3.38 pct, Sterlite Ind 2.91 pct, Bajaj Auto 2.88 pct, Cipla 2.80 pct, Jindal Steel 2.15 pct, HUL 1.70 pct, Coal India 1.59 pct and Maruti Suzuki 1.29 pct.
Among other sectoral indices, the BSE-Realty spurted by 7.33 pct, BSE-PSU 4.67 pct, BSE-Teck 2.82 pct, BSE-IT 2.45 pct and BSE-Power 1.75 pct while BSE-Auto dropped by 2.88 pct, BSE-Metal 1.44 pct and BSE-HC by 0.89 pct.
The total turnover at BSE and NSE was at Rs 12,288.25 crsand Rs 66,915.11 crs respectively as against the last week's level of Rs 13,452.18 crs and Rs 64,590.39 crs.
Forex: The Indian rupee extended its gains for the second week in a row and flared up by 105 paise to close the week at 2-1/2-month high of 53.71 against the Greenback on strong local equities triggered by delay in the implementation of controversial GAAR by the government and a fall in wholesale inflation for December boosted rate cut hopes.
Sustained dollar selling by exporters
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