Markets post second week gains spurred by GST hopes

29/11/2015

Mumbai: Shrugging-off global volatility, the truncated week saw the benchmark Sensex extending its rally for the second straight week to log the psychological 26K-level and the broader Nifty marking the crucial 7,900-mark.
The holiday shortened week started with stocks trading sluggish amid volatility due to November monthly expiry derivative contracts and global weakness following renewed Chinese growth concerns as commodities witnessed a slide.
The sentiment got pepped-up despite volatility on the November derivative expiry day which coincided with the opening of Winter Session of the Parliament amid hopes over much belated Goods and Services Tax talks on the roll as the market players opted for hectic short-covering and value-buying in fundamentally strong shares.
Also, gains in European market supported the sentiment.
Expectations on GST Bill during the current Parliament session further fuelled after Prime Minister Narendra Modi invited Congress President Sonia Gandhi and senior leader Manmohan Singh for tea, leading investors to enlarge positions.
The Sensex resumed resumed higher at 25,945.14 and hovered between a high of 26,184.65 and low of 25,703.86 before ending the week at 26,128.20, showing a gain of 259.71 points or 1.00 percent.
The Sensex gained by 517.67 points,or 2.02 percent, in last two weeks.
The 50-share Nifty also rose by 86.15 points or 1.10 percent to 7,942.70. It gained 180.45 points, or 2.32 percent, in last two weeks.
Buying was led by Realty, Banking, Oil&Gas, PSUs, Auto, Power, Tech, Metal, Consumer Durables, IT and Capital Goods sectors, well supported by midcap and smallcap companies shares, while HealthCare and FMCG segments saw some selling.
Foreign portfolio investors (FPIs) continued their selling spree during the week as they sold a net Rs 1,326.05 crore as per the SEBI's record including the provisional figure of November 27.
The BSE Mid-cap index rose by 126.16 points or 1.16 percent to settle at 10,984.57 and the BSE Small-cap index also gained by 178.13 points, or 1.57 percent, to close at 11,545.84. Both these indices outperformed the Sensex.
From the 30-share Sensex pack, 20 stocks rose and 10 were losers during the week which ended November 27, 2015.
Major gainers from the Sensex pack were Hero Motocorp (5.48 percent), Gail (5.38 percent), Tata Motors (3.65 percent), Reliance (3.50 percent), SBI (2.70 percent), Axix Bank (2.50 percent), Hindunilever (2.51 percent), M&M (2.40 percent), HDFC (2.17 percent) and Sun Pharma (1.85 percent).
However, Dr Reddy's fell by 7.46 percent followed by Maruti 3.34 percent, TCS 1.79 percent, VEDL 1.40 percent, NTPC 1.30 percent and Cipla 0.52 percent.
Among the S&P BSE sectoral indices, realty rose by 4.37 percent, bankex by 1.99 percent, oil and gas by 1.81 percent, auto by 1.09 percent, power by 0.91 percent, tech by 0.78 percent, metal by 0.44 percent and consumer durables by 0.33 percent, while healthcare fell by 0.51 percent and FMCG by 0.33 percent.
Both the stock exchanges were closed on Wednesday, November 25, on account of 'Gurunanak Jayanti'.
The total turnover at BSE and NSE fell to Rs 11,087.94 cr and Rs 69,864.40 cr respectively from the previous weekend's level of to Rs 13,611.90 cr and Rs 77,391.75 cr respectively.

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