Money on the markets

A maturing market amid the mayhem

Sensex extends gains, up 14 pct over 5 sessions

May 22, 2009

INDIA-MARKETS/The stock market ended 1.1 percent higher on Friday at 13,887, on account of buying by some funds, taking its gains for the week to 14 percent.

The election result has helped in restoring battered investor confidence.

Heavyweight stocks like Reliance Industries, ICICI Bank and L&T led the benchmark rise.

The BSE Small-cap index gained over 3 percent as some small-cap stocks rallied. NIIT gained 23 percent, Zandu Pharma rose 20 percent and NDTV gained 16.95 percent.

In sectors, the capital goods index notched up gains of nearly 3 percent, whereas the Bankex ended 1.8 percent higher.

Karnataka Bank was the top bankex performer with gains of 14.1 percent, followed by ICICI, which rose 4.5 percent.

Shares in Satyam surged by over 10 percent to close at 53.65 rupees.

It’s been a historic week for the Sensex. It registered a 17 percent rise on Monday and also hit its first-ever upper circuit which halted trade that day.

With the government taking shape soon, do you think the market will extend its rally to next week?

Comments

Bulls are back.. sensex at 20,000 soooon!!! ??

Posted by Raj | Report as abusive
 

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