Sensex Up By 445.03 Pts; Nifty Gains 131 Pts

Sensex Up By 445.03 Pts; Nifty Gains 131 PtsDuring the week ended April 09, 2009, the 30 share index, Sensex gained 445.03 points to 10,803.86, whereas the broad based NSE Nifty climbed 131 points to 3,342.05 during the same period.

Indian stock markets on Monday belled the week strongly and closed the day in the positive terrain.

At closure, Sensex climbed 186 points to close at 10535, whereas the Nifty marked its closure at 3256, up 45 points.

Consumer durables, metal, auto and real estate stocks topped the gaining charts, whereas FMCG stocks went down.

The markets remained closed on Tuesday because of Mahavir Jayanthi.

The 30-share index, opened after losing 251.29 points at 10,283.58 on Wednesday. It also hit a intraday low of 10,171.91 on weak overseas markets.

Afterward, the index recovered and jumped to the positive terrain during noon and hit a high of 10,778.11 to finally marked its closure strongly. The Sensex spurted by 207 points to finish at 10,742 and the Nifty too rose by 86 points to close at 3343.

The rise can largely be attributed to heavy FII buying and shortcovering in select stocks. The broad market indices outperformed the BSE Mid Cap index and the BSE Small Cap index.

Industrial output declined by 1.2 per cent year-on-year basis in February, largely due to the high base effect and subdued external demand. Industrial output had recorded a growth of 9.5 per cent in February 2008.

Official data released on Thursday showed that industrial output grew 2.8 per cent in April- February 2009, lower than the 8.8 per cent recorded in the same period during the previous year.

The benchmark Sensex closed with a gain of 61 points, at 10,804 after profit-taking emerged prominently in the latter half of the session after touching the day's high of 10,932. The Nifty closed flat at 3,342.

On Thursday, the Sensex opened the day strongly after gaining 133.81 points at 10,876.15. After few minutes of trading, it fell into the negative zone on the back of profit booking.

Finally, the 30-share index closed the choppy day positively led by realty, metal, banking and consumer durables stocks.

For the week ended Mar 28, 2009, the country’s benchmark wholesale price index (WPI), inflation fell marginally to 0.26% as against 0.31% during the last week.

During the month of February 2009, index for industrial production (IIP) saw a negative growth of 1.2% as compared with positive growth of 0.4% (revised) during the previous month in spite of stimulus packages declared by the administration.

The markets remained closed on Friday on account of Good Friday.

During the Week, mid-cap stocks gained 232.93 points to 3,358.35, whereas small-cap shares surged 330.63 points to 3,767.55 during the same period.

Among sectoral indices, the top performers included Realty, which soared 13.69%, Consumer durables gained 13.59%, Metal advanced 9.28%, Capital goods climbed by 8.29%, Auto, Bankex and Power increased more than 4% each, Oil &gas grew 3.99%, FMCG and Healthcare remained up by 1% each.

There were no major losers in the sectoral indices over the week.

Gammon India, one of the leading construction companies, received a project worth Rs 4 billion from Punatsangchhu Hydro Electricity Project Authority.

Valecha Engineering (VEL) has secured new projects worth Rs 1.36 billion approximately which includes road resurfacing of runway at Srinagar worth Rs 710 million and construction of under pass at rotary near domestic airport along road connecting to DWARKA at Delhi worth Rs 650 million.

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