Despite making some moderate recovery during the final hour of closing on Friday (Jan 09), the 30-share index BSE Sensex ended the week on a negative note.

Second line stocks saw heavy selling pressure. Metal and realty stocks were hammered badly on Friday.

For the week ended December 27, India’s benchmark wholesale price index (WPI), inflation declined to 5.91 percent as compared to 6.38 percent during the last week.

During the same period of the last year, the inflation was at 3.83%.

The Sensex lost more than 700 points on Wednesday (Jan 07) following some startling revelations made by B. Ramalinga Raju, the Chairman of Satyam Computer Services Ltd.

It came as disgusting news to market that Raju quitted after confession of fraud in company’s books.

All sectorial indices hammered badly and marked their closures on a negative note. Realty, oil & gas and IT were among the major losers, which fell 16.95%, 9.35% and 9.32% respectively.

Indian equities welcomed the new year (2009) on a bullish note. Midcap and Smallcaps showed upbeat reaction all through the week.

The 30 share index, Sensex gained 629.3 points to 9,958.22 during the week, which ended on January 02, 2009. In contrast, the broad based NSE Nifty made 189.5 points to 3,046.75 during the same period.

During the week, Mid-cap stocks recorded 284.5 points to 3,391.18, while Smallcap shares zoomed 321.91 points to 3,870.45.

After opening the day positively, the 30-share index Sensex continued its positive run on the back of heavy buying activity witnessed in frontline stocks.

Metals, consumer goods and realty stocks gained ground.

All sectoral indices went up, while BSE Midcap and Smallcap index gained 1.61% and 1.66% respectively.

Today, the BSE Sensex started the day at 9,806.64, up 90.48 points, as against its previous closure in which it gained 182.64 points at 9716.16.

After previous close at Rs 160.60, Stayam Computer Services is currently trading Rs 12 up at Rs 172.60 i.e. 7.47% up at BSE on Dec 31 at 12:01 pm.

The stock closed at Rs 160.70 yesterday (Dec 30), but it is currently trading Rs 12.25 up at 172.95 i.e. 7.62% up at NSE on Dec 31 at 12:11 pm.

The stock still has great potential to go up. It is advised to hold the stock.

Portfolio Manager, PN Vijay said reckons that above Rs 205, Satyam can touch Rs 217.

Indian equities belled the day (Monday, Dec 29) on a weak note because of negative global cues.

Select FMCG, pharma, metal and oil stocks went up, while realty stocks slipped on selling pressure.

There were huge losses for a variety of stocks from auto, capital goods, information technology, power and banking sectors as well.

BSE Midcap and BSE Smallcap stocks remain quite subdued this morning.

At 10:26 a.m., the BSE Sensex, which opened with a small negative gap at 9318.86, stood at 9204.97, down 123.95 points.