Money on the markets
A maturing market amid the mayhem
The Sensex managed to close 2 percent higher today despite short covering, helped by increased buying by funds and strong Asian markets.
Top among the Sensex gainers were Ranbaxy, HDFC and Reliance Infrastructure, all gaining over 6 percent.
The BSE Realty index emerged on top, posting gains of 5.4 percent. DLF, Unitech and Anant Raj Industries were up in the range of 5-20 percent.
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.
The Sensex closed 4.9 percent higher on Friday to post its biggest rise in three months, as investor confidence was bolstered by a jump in other Asian markets following positive news from the United States.
The benchmark closed 412.86 points up at 8756.61, supported by index heavyweights Reliance Industries (up 6.6percent), ICICI Bank (up 8.6 percent) and Infosys (up 5.6 percent).
The Sensex closed 2.25 percent higher on Thursday, as gains on Wall Street and positive inflation data boosted investor sentiments.
The Sensex closed nearly 2 percent down on Monday as worries over the world economy hit investor sentiments.
The benchmark closed at 8160.4, dragged down by index heavyweights Reliance Industries (down 1.4 percent), ITC (down 4 percent) and Hindustan Unilever (down 3.3 percent).
The BSE Sensex closed 1.56 percent higher on Friday as investors saw an opportunity in the battered market that had plunged to its lowest in three years in the previous session.
The benchmark closed at 8352.82, supported by index heavyweights Reliance Industries (up 1.8percent), NTPC (up 2.2 percent) and Bharti Airtel (up 2.1 percent).
The benchmark index shed 0.7 pct on Friday as disappointing growth data for the third quarter dampened investor sentiments.
It was another bright day for Indian investors as gains across world markets allayed concerns over risk aversion and triggered short covering ahead of the expiry of monthly derivatives contracts on Thursday.
Bears ruled the day as the Sensex slipped 2.4 percent to close at 9,100 levels. Fears that a deepening global economic crisis would trigger funds outflow weighed on sentiments as investors waited for cues form U.S. President-elect Barack Obama’s inaugural speech.
Index heavyweights Reliance Industries, Bharti Airtel and ICICI led the fall. Financial stocks took a beating after a record loss by Britain’s RBS.