Sensex ends flat, broader markets gain in volatile week (Weekly Market Review)
By IANSSaturday, October 23, 2010
MUMBAI - The benchmark index for Indian stock markets ended flat in a rather volatile week of trade. Mid-to-smaller valued scrips, however, saw better buys.
The Bombay Stock Exchange’s 30-share sensitive index (Sensex) nudged 0.2 percent or 40.81 points up to end the week at 20,165.86 points.
At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty ended flat at 6,066.05 points, almost unchanged during the week to close Friday at 6,066.05 points.
Foreign funds, however, continued with their persistent buying in the equities and bond markets, with overseas inflows touching $811.45 million during the week ending Friday, according to data available with the Securities and Exchange Board of India (SEBI).
For the month, funds from foreign institutional investors stood at $5.8 billion.
Broader markets, however, did much better. The BSE midcap index moved up 1.37 percent, while the BSE smallcap index rose 0.88 percent.
Among top weekly gainers on the Sensex were TCS, up 4.4 percent at Rs.1,040.10; Cipla, up 2.9 percent at Rs.344.75; Reliance Industries, up 1.6 percent at Rs.1,081.45, and Tata Power, up 1.3 percent at Rs.1,420.
Top losers included Wipro, down 9.4 percent at Rs.448.40; Sterlite Industries, down 7.8 percent at Rs.168.20; HDFC, down 6.2 percent at Rs.692.95, and Jaiprakash Associates, down 6.2 percent at Rs.125.75.
Asian stock markets, declined after China reported its economy grew at 9.6 percent in the third quarter, its smallest rise in a year even as inflation accelerated to its fastest pace in close to two years.
The Japanese Nikkei lost 0.77 percent to close at 9,426.71 points.
The Chinese Shanghai Composite index crawled up 0.13 percent at 2,975.04, while Hong Kong’s Hang Seng closed 1.01 percent down at 23,517.54 points.
European bourses managed moderate to good weekly gains, although profit booking happened intermittently.
FTSE 100 closed 0.67 percent higher at 5,741.37 points, while the German DAX rose 1.75 percent at 6,605.84 points. The French CAC 40 moved up 1.08 percent to close at 3,868.54 points.
The US markets closed higher for the third consecutive week helped by good results posted by companies.
The Dow Jones Industrial average rose 0.63 percent to close at 11,132.56 points, while the S&P 500 gained 0.59 percent at 1,183.08 points.
The Nasdaq Composite rose 0.43 percent to 2,479.39 points.
