Markets ruled firm on FII buying last week, Sensex up 122 points
Sunday, 18 July 2010
MUMBAI, July 17 (PTI): Markets continued to rule firm for the second consecutive week as the BSE benchmark Sensex rallied by another 122 points on stock-specific buying following strong Q1 results and sustained capital inflow from foreign funds.
The Sensex advanced in three out of the five trading sessions boosted by market regulator Sebi's decision to allow physical settlement of stock derivatives.
India's largest realty firm by market capitalisation, DLF, was the biggest Sensex gainer. DLF stocks rose 8.10 per cent to Rs 319.65. Realty shares were in demand on speculation that the government will soon announce a hike in foreign direct investment (FDI) in the real estate sector.
India's largest truck maker by sales, Tata Motors, was the second biggest Sensex gainer. The stock rose 7.92 per cent to Rs 831.6 after its global vehicles sales shot up 46 per cent to 91,608 units in June 2010 over the same month last year.
TCS reported a better-than-expected 24.25 per cent rise in net profit in June quarter.
The 50-issue Nifty of the National Stock Exchange (NSE) crossed the 5,400-mark after 29 months, while the 30-share Sensex scaled the 18,000-level during the week for the first time in three months.
The gains were somewhat pared by a less-than-expected industrial production data for May 2010.
The NSE Nifty ended at 5,393.90 points after touching a high of 5,453.45, a level not seen since February 6, 2008, when it had hit the 5,470.40 level. It had ended at 5,483.90 on February 5, 2008.
The Sensex advanced in three out of the five trading sessions boosted by market regulator Sebi's decision to allow physical settlement of stock derivatives.
India's largest realty firm by market capitalisation, DLF, was the biggest Sensex gainer. DLF stocks rose 8.10 per cent to Rs 319.65. Realty shares were in demand on speculation that the government will soon announce a hike in foreign direct investment (FDI) in the real estate sector.
India's largest truck maker by sales, Tata Motors, was the second biggest Sensex gainer. The stock rose 7.92 per cent to Rs 831.6 after its global vehicles sales shot up 46 per cent to 91,608 units in June 2010 over the same month last year.
TCS reported a better-than-expected 24.25 per cent rise in net profit in June quarter.
The 50-issue Nifty of the National Stock Exchange (NSE) crossed the 5,400-mark after 29 months, while the 30-share Sensex scaled the 18,000-level during the week for the first time in three months.
The gains were somewhat pared by a less-than-expected industrial production data for May 2010.
The NSE Nifty ended at 5,393.90 points after touching a high of 5,453.45, a level not seen since February 6, 2008, when it had hit the 5,470.40 level. It had ended at 5,483.90 on February 5, 2008.