Weekly review: Market takes US Fed tapering in stride as BSE Sensex surges 364 pts

Dec 21 2013, 16:36 IST
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IT stocks rose as Fed's decision to slow the pace of its bond purchases boosted investor confidence about economic recovery in US, the biggest market for Indian infotech firms. IT stocks rose as Fed's decision to slow the pace of its bond purchases boosted investor confidence about economic recovery in US, the biggest market for Indian infotech firms.
SummaryOn Friday, the 30-share index spurted by 371 points on sharp rise in heavyweight Reliance Industries.

was also supported by strong buying from the FII community. The Nifty is expected to trade in range of 6,263-6,344 and Sensex between 21,167 and 21,243 according to technical indicators," Chaudhary added.

As many as 26 scrips from the Sensex pack ended higher while the four others finished lower.

Major gainers from the Sensex pack were Maruti Suzuki India 6.54 pct followed by BHEL 6.46 pct, Cipla 5.93 pct,

Tata Consultancy Services (TCS)5.50 pct,

Wipro 5.46 pct, SSLT 5.42 pct, Infosys 5.02 pct, Tata Power 4.03 pct, RIL 3.39 pct, Hero MotoCorp 2.93 pct, Bharti Airtel 2.09 pct and ONGC rose 1.35 pct.

Among the S&P BSE indices, IT firmed up 5.79 pct, HC 5.25 pct, Realty 4.96 pct, Teck 4.86 pct, Auto 2.68 pct, Oil&Gas 2.52 pct, Power 2.21 pct and CG shot up 1.98 pct. Mid and small-cap indices rose 3.17 pct and 2.62 pct respectively.

The total turnover at BSE and NSE rose to Rs 11,772.25 crore and Rs 60,818.97 crore respectively as against the last weekend's level of Rs 9,744.50 crore and Rs 53,922.87 crore.

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