Highest weekly gain for markets in 17 years
Stock indices rose, with the Bombay Stock Exchange Sensitive Index, or the Sensex, posting its highest weekly gain in 17 years.The Sensex closed at 13,887.15 points, up 150.61 points or 1.1 per cent. The S&P CNX Nifty gained 27.60 points, or 0.66 per cent, to close at 4238.50. Over the week, the benchmark index gained 14.08 per cent, which is the sharpest since the week ended March 27, 1992. It has also risen for 11 consecutive weeks for the first time since August 2005.
The markets opened in the red in the morning. However, it picked up momentum in the afternoon session once it was clear that the Congress would retain key portfolios in the government. Among sectoral indices, consumer goods rose by 2.90 per cent, followed by bankex and healthcare that were up over 1.5 per cent. Both consumer durables and auto indices were down over 1 per cent.
Larsen & Toubro, the country’s largest engineering company, closed up 4.5 per cent, on expectation that infrastructure spending will be boosted to buoy an economy expanding at its slowest pace in six years.
| SETTING NEW RECORDS BSE sectoral indices |
|||
| May 15,2009 | May 22,2009 | % change | |
| Realty | 2404.87 | 3310.79 | 37.67 |
| Cap goods | 8676.35 | 11108.25 | 28.03 |
| Cons durables | 2007.22 | 2507.79 | 24.94 |
| Metal | 7872.7 | 9740.89 | 23.73 |
| Power | 2216.53 | 2736.83 | 23.47 |
| Bankex | 6375.65 | 7827.56 | 22.77 |
| Auto | 3742.86 | 4378.81 | 16.99 |
| Oil & gas | 8509.62 | 9814.23 | 15.33 |
| Sensex | 12173.42 | 13887.15 | 14.08 |
| Healthcare | 3161.14 | 3377.31 | 6.84 |
| FMCG | 2054.98 | 2080.53 | 1.24 |
| IT sector | 2850.73 | 2829.93 | -0.73 |
source: Business-Standard
Tags: bse india, bse news, hot tips, nse news, sensex india, share market, stock market, stocks, weekly gain
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