Sensex snaps two-week losses; ends 147 points up (Weekly market review)
By IANSSaturday, January 22, 2011
MUMBAI - Indian equities markets ended in the positive terrain this week, snapping two weekly losses, on the back of renewed buying support by domestic funds in selected financial stocks.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), ended the week at 19,007.53 points, up 0.78 percent or 147.09 points from the previous week close of 18,860.44 points.
The key indices were largely range-bound during the week as investors remained cautious ahead of the RBI’s monetary policy review.
The Reserve Bank of India (RBI) is scheduled to announce third quarter review of monetary policy Jan 25. Most analysts expect the apex bank would raise policy rates as inflation remains much above the comfort zone.
The benchmark Sensex closed 39.01 points or 0.2 percent lower at 19,007.53 points in a lackluster session Friday, the last trading day of the week.
The 50-scrip S&P CNX Nifty of the National Stock Exchange closed 15.1 points or 0.26 percent lower at 5,696.5 points Friday.
Broader markets nudged higher with the BSE midcap index closing 0.22 percent up and the BSE smallcap index ending 0.46 percent higher on the last trading day of the week.
Major Sensex movers Friday were Reliance Infra, up 2.81 percent at Rs.737.10; SBI, up 2.49 percent at Rs.2,597.95; Reliance Communications, up 2.14 percent at Rs.136.10; and BHEL, up 1.75 percent at Rs.2,217.50.
Top Sensex losers included Wipro, down 4.59 percent at Rs.456.05; ONGC, down 2.57 percent at Rs.1,105.05; ITC, down 1.63 percent at Rs.168.95; and DLF, down 1.56 percent at Rs.252.35.
Other Asian stock markets closed in the red with concerns that China would announce more monetary policy tightening measures weighing on traders’ minds.
Hong Kong’s Hang Seng shed 0.53 percent to end at 23,876.86 points, while the Japanese Nikkei closed 1.56 percent down at 10,274.52 points.
However, the Chinese Shanghai Composite index rose 1.41 percent to close at 2,715.29 points.
Key indices of European stock markets ended the week in the positive. The UK’s FTSE 100 closed 0.48 percent up at 5,896.25 points.
The German DAX settled 0.54 percent up at 7,062.42 and the French CAC 40 ended at 4,017.45, up 1.33 percent.
The US markets ended mixed with the Dow Jones Industrial index closing 0.41 percent up at 11,871.80 points and S&P 500 up 0.24 percent at 1,283.35 points.
However, the Nasdaq index fell 0.55 percent to 2,689.54 points Friday.
