Money on the markets
A maturing market amid the mayhem
The Sensex ended the week on a positive note, closing 1.7 percent higher, as increased investor confidence helped boost sentiment.
The benchmark closed 194.06 points higher at 11,329.05 while the Nifty ended 1.6 percent higher at 3480.75.
On the sectoral front, the BSE Banking index gained 2.7 percent. This was followed by the Consumer Durable index which was up 2.3 percent. All indices closed in positive territory.
The BSE Sensex closed 2.9 percent higher on Thursday as investors put aside worries about the world economy and returned to the market.
The Sensex seesawed in early trade today but managed to close 0.57 percent higher, tracking gains in Asian and European markets.
The BSE Sensex today crossed the psychological mark of 10,000 and ended 446 points higher, its best close in nearly five months, guided by strong Asian and European markets.
The benchmark index ended at 10,348.83, while the 50-share Nifty ended 150.7 points higher at 3,211.05.
Reliance Industries surged more than 5 per cent on reports the company has started pumping gas from the KG basin, which at full throttle will nearly double India’s gas output.
The Sensex managed to close 2 percent higher today despite short covering, helped by increased buying by funds and strong Asian markets.
The Sensex jumped 335 points on Thursday to cross the 10,000 mark, driven by strong global markets and short covering in monthly derivative contracts.
The Sensex ended 21.38 points down on Tuesday, erasing early gains of as much as 2.9 percent, as investors took profits after the market had risen more than 13 percent over the past two weeks.
Selling was seen in ONGC (down 2 percent), Reliance Communication (down 3.9 percent), Infosys (down nearly 1 percent) and Jaiprakash Associates (down 6.7 percent), while ICICI Bank, HDFC Bank and SBI were among the top gainers, rising 6.3 pct, 2.4 pct and 1.09 pct respectively.
The Sensex ended 457.34 points up on Monday after a fresh plan to clean up the U.S. financial sector set off a strong rally across Asia.
Gains were led by Reliance Industries which rose 7.5 percent, NTPC (up 3.4 percent), ICICI Bank (up 7.3 percent) and Housing Development Finance Corp (up 8.4 percent) led the gains.
The U.S. government, in its latest move to rescue the economy from the clutches of a deep recession, has introduced a $1-trillion plan to rid banks’ balance sheets of bad loans and securities.