Taking cues from global market, Indian stock market sarted trading for the day on a negative note. After remaining listless in early trade, both the BSE Sensex and the NSE Nifty got direction after data showed inflation declined to 7.24 per cent in November from 7.45 per cent in October. An easing inflation data raised market sentiments as it created hopes that the Reserve Bank of India will move towards easing interest rates starting early next year, if not on 18th of this month. The government's reform push deciding on a slew of key policy issues last evening lifted the market sentiment further.
Investors were also enthused by Finance Minister P Chidambaram's comment that government will take some more steps in the next few weeks to revive the economy and boost investment sentiments. Figures reflecting buying spree by Foreign institutional investors, who bought shares worth a net Rs 1,256.57 crore yesterday as per provisional data from the stock exchanges acted as a another catalyst for the market.
On the last day of trading, this week, the BSE Sensex rose 0.46 percent, or 87.99 points, to end at 19317.25, but ending 0.55 percent lower for the week. The NSE Nifty rose 0.48 percent, or 28.10 points, to finish at 5879.60, although still down 0.47 percent for the week. The top gainers in the Sensex were Reliance Capital (up 4.2%), Tata Motors (up 3.6%), Reliance Infra (up 2.8%), Hero Motocorp (up 2%) and HDFC (up 1.7%). While the top losers in the Sensex were BHEL (down 7.4%), Tata Power (down 4.6%), NTPC (down 4.4%), Grasim (down 3.3%) and Hindalco (down 3.1%).
Although, overall, 16 scrips out of the 30-share Sensex pack ended with losses while 14 scrips finished with gains. The total market breadth continued to remain negative as 1475 stocks closed with losses while 1452 ended higher. The total turnover dropped to 2424.53 crore from Rs 2827.91 crore yesterday.
Investors were also enthused by Finance Minister P Chidambaram's comment that government will take some more steps in the next few weeks to revive the economy and boost investment sentiments. Figures reflecting buying spree by Foreign institutional investors, who bought shares worth a net Rs 1,256.57 crore yesterday as per provisional data from the stock exchanges acted as a another catalyst for the market.
On the last day of trading, this week, the BSE Sensex rose 0.46 percent, or 87.99 points, to end at 19317.25, but ending 0.55 percent lower for the week. The NSE Nifty rose 0.48 percent, or 28.10 points, to finish at 5879.60, although still down 0.47 percent for the week. The top gainers in the Sensex were Reliance Capital (up 4.2%), Tata Motors (up 3.6%), Reliance Infra (up 2.8%), Hero Motocorp (up 2%) and HDFC (up 1.7%). While the top losers in the Sensex were BHEL (down 7.4%), Tata Power (down 4.6%), NTPC (down 4.4%), Grasim (down 3.3%) and Hindalco (down 3.1%).
Although, overall, 16 scrips out of the 30-share Sensex pack ended with losses while 14 scrips finished with gains. The total market breadth continued to remain negative as 1475 stocks closed with losses while 1452 ended higher. The total turnover dropped to 2424.53 crore from Rs 2827.91 crore yesterday.
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