Equity markets post gains for the week (Weekly Market Roundup)August 30th, 2008 - 2:30 pm ICT by IANS
Mumbai, Aug 30 (IANS) Indian equity markets registered gains for the week, piggybacking on the decline in inflation rate and strong global markets. Out of five trading sessions, three ended positive.Inflation based on the wholesale price index came down to 12.40 percent for the week ending Aug 16 2008, from the previous week’s 12.63 percent.
The benchmark index of the Bombay Stock Exchange (BSE), the Sensex rose 163.04 points or 1.13 percent to 14,564.53 in the week. The S&P CNX Nifty index of the National Stock Exchange gained 32.55 points or 0.75 percent to move to 4,360.
The BSE Mid-Cap index rose 15.44 points or 0.27 percent to 5,742.29. The BSE Small-Cap index fell 34.21 points or 0.49 percent to 6,891.64.
According to the capital market regulator Securities and Exchanges Board of India (SEBI), the Indian equity markets attracted foreign institutional investment of $128.40 million during the week.
The Sensex rose 48.86 points or 0.34 percent at 14,672.69 Monday and 31.87 points or 0.22 percent to 14,482.22 Tuesday.
It lost 185.43 points or 1.28 percent to go down to 14,296.79 Wednesday and a further 248.45 points or 1.74 percent to end at 14,048.34 Thursday.
But the Sensex rose 516.19 points or 3.67 percent to end at 14,564.53 Friday.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries lost 4.85 percent to Rs.2,136.75 during the week.
India’a largest private sector bank by net profit ICICI Bank rose 4.19 percent to Rs.671.50.