Positive global cues, coupled with easing crude oil prices, relatively stable inflation figures and resumption of buying by the foreign institutional investors (FIIs) kept the market momentum accelerated, resulting in key Indian indices closing on a positive terrain for the second consecutive day. The 30-share Sensex of Bombay Stock Exchange (BSE) gained 523.55 points (up 3.99%) to close the day at 13,635.40 points. While broader S&P CNX Nifty of the National Stock Exchange (NSE) added 131.65 points or was up 3.34% to end at 4,078.85 points.
Both the benchmark indices have gained significantly in last two days relief rally. The Sensex gained 1059.60 or 8.43% points while the Nifty has added 277.55 points or 7.22%.
The benchmark indices have ended the week on the positive note on the back of gains in last two days. The Sensex gained 165.55 points or 1.23% after recovering from 52 week-low of 12,514.02 points on July 16. The NIfty posted a marginal weekly gains of 43.75 points or 1.07%.
Market analyst, also attributed Friday?s positive ending to genuine buying in the banking and realty sectors stocks and some easing in global crude prices. Combined volume and turnover of the cash segment at both the SEs stood at Rs 18,212.75 crore on Friday gaining Rs 1,639.88 crore compared to Thursday. While the combined volume also increased by 4.36 crore shares on to 82.77 crore shares on Friday.
Hitesh Agarwal, head of research, Angel Broking said, ?Though the week has been concluded on the positive note, I think nothing much has changed fundamentally. We may see markets tumbling again when crude prices go up or inflation crosses the 12% mark next week. The positive trend that has been seen in the last two days was due to three factors, slackening of crude prices, inflation figures better then expected and positive cues from the
US markets.? Sensex opened the day at 13,234.53 points before touching the high of 13,684.27 points and low of 13,093.34 points before finally closing at 13,635.40 points. Among the sectoral indices, excluding IT and metal indices all the indices ended the day on the positive terrain.
Overall in BSE, 1,616 stocks advanced, 980 declined and 90 remained unchanged. While in Sensex 23 stocks advanced and 7 stocks were negative. While FIIs were net buyers at Rs 408.21 crore and domestic institutional investors were net sellers at Rs 70.47 crore. Among Asian markets, Shanghai Composite gained 93.59 points or 3.49% before closing the day at 2,778.37 points. Hang Sang also rose to 139.47 points or 0.64% before concluding the day at 21,874.19 points.