Money on the markets

A maturing market amid the mayhem

Sensex extends rise above 14,500

May 29, 2009

INDIAThe Sensex ended the month with a flourish, closing 2.3 percent higher on Friday which helped it post the biggest monthly rise in 17 years as positive economic data lifted investor sentiments.

Helping the rally was better-than-expected GDP figure for the March quarter.

The top Sensex gainers included ACC, DLF and JP Associates, all gaining over 8 percent each.

Oil firms were in focus today, with the government indicating that it was likely to allow market pricing of fuels. HPCL shares surged 8.3 percent, IOC gained nearly 7 percent and BPCL ended 3.75 percent up.

Some oil marketing companies also announced their results. BPCL’s Jan-March net profit stood at 36.28 billion rupees, and IOC’s profit was 66.2 billion rupees.

Sector-wise, realty led the pack as its index gained 6.7 percent. Ansal Properties and Indiabulls Real Estate gained over 9 percent each. DLF was up 8.4 percent.

With the market displaying an uptrend, do you think touching 15,000 is a possibility next week?

Comments

Cetainly. by Tuesday infact

Posted by Aki | Report as abusive
 

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