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Sensex, Nifty range-bound around record highs (Weekly Review)

Sat, Sep 20, 2014, 11:31 AM
Mumbai, Sep 20 : Healthy buying by foreign and domestic investors on the back of as the US Fed announcement of maintaining a near zero percent interest rates even after the end of its bond-buying programme ends helped markets to remain range bound to 27,000-point mark in the week ended Sep 19.

The over positive sentiment coupled with expectations of further reforms helped the Indian equities markets to remain high.

"Markets are in a consolidation mode with benchmarks remaining almost flat during the week. However, markets have sustained at near all-time highs, which reflects the strength of the market," said Dipen Shah, head- private client group research, Kotak Securities.

"There was relief on the US Fed not giving any indications of an early increase in interest rates. In these times, when market sentiment is strong and small and midcaps are making new highs, our advice to investors would be to remain discrete and look to stay invested in quality companies with good management track record."

The benchmark Sensex gained marginally by 1.12 percent in the week ended Sep 19 from its previous weekly close on Sep 12. The index closed at 27,090.42 points, while it ended trade at 26,816.56 points on Sep 12.

The benchmark Sensex gained marginally by 0.02 percent in the week ended Sep 12 from its previous weekly close on Sep 5. The index closed at 27,061.04 points, while it ended trade at 27,026.70 points on Sep 5.

The FPIs bought shares worth $354.24 million or Rs.2,159.67 crore during the week ended Sep 19, according to data with the National Securities Depository Limited (NSDL).

For the week ended Sep 12, the FPIs had bought shares worth $445.32 million or Rs.2,693.02 crore, which helped propel the Indian equities market to subsequent new highs.

The foreign institutional investors (FIIs) along with sub-accounts and qualified foreign investors have been clubbed together by market regulator Securities and Exchange Board of India (SEBI)to create a new investor category called FPIs.

The FPIs had remained net buyers Friday. They bought shares worth $25.31 million, or Rs.154.53 crore, on Sep 19.

On Friday, the 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,139.39 points, closed trade at 27,090.42 points, down 21.79 or 0.08 percent from the previous day's close at 27,112.21 points.

Major Sensex gainers on Friday included Tata Consultancy Service (TCS), up 2.71 percent at Rs.2,708.05; Maruti Suzuki, up 1.29 percent at Rs.3,084.95; Cipla, up 1.22 percent at Rs.627.80; HDFC, up 1.08 percent at Rs.1,065.30; and Wipro, up 0.98 percent at Rs.586.65.

Major Sensex losers on Friday included Larsen and Toubro, down 2.51 percent at Rs.1,535.30; ONGC, down 2.26 percent at Rs.405; State Bank of India (SBI), down 1.92 percent at Rs.2,568.50; Hindustan Unilever, down at 1.73 percent at Rs.737.55; and Hero MotoCorp, down 1.57 percent at Rs.2,951.05.
Agency: IANS

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