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Market extends gains for 3rd week on persistent buying

Press Trust of India  |  Mumbai 

Stocks: Markets extended gains for the third consecutive week on persistent buying with crossing the psychological important 27,000 level after nine weeks on rise in industrial output and fall in figure.

of Metal, Power, Banking, Capital Goods, FMCG and Auto sectors were the major gainers of the week.

The rose by 478.83 points or 1.79 per cent to settle at 27,238.06. The last settled at 27,517.68 on November 10, 2016.

The 50 index also rose by 156.55 points or 1.90 per cent to settle at 8,400.35. The last settled at 8,525.75 on November 10, 2016.

The sensex gained 1,197.36 points on 4.60 per cent in three weeks. The CNX also rose by 414.60 points or 5.19 per cent in three weeks.

India's industrial production surged at 13-month high of 5.7 per cent in November, 2016 over November, 2015, snapping 1.8 per cent fall recorded in October, 2016.

The all-monthly based on the consumer price index (CPI) dipped to 25-months low of 3.41 per cent in December, 2016, compared with 3.63 per cent in November, 2016.

of 10 Tata group companies witnessed some action after Natarajan Chandrasekaran was appointed as the new chairman of Tata Sons with effect from February 21, 2017.

of pharma companies were mixed after the US President-elect Donald Trump during his first press meet promised a complete turnaround in drug pricing.

Meanwhile, foreign portfolio investors (FPIs) and

foreign institutional investors (FIIs) sold shares worth Rs 1,303.32 crores during the week, as per Sebi's record including the provisional figure of January 13.

Among sectoral and industry indices, Metal rose by 5.47 per cent, followed by power 4 per cent, 3.62 per cent, capital goods 3.56 per cent, PSU 2.89 per cent, FMCG 1.80 per cent, auto 1.19 per cent, consumer durables 0.95 per cent and oil & gas 0.75 per cent.

Among the 30-share Sensex pack, 22 stocks rose while remaining 8 stocks declined during the week.

Tata Steel was the biggest gainer in the Sensex pack, which was up by 6.36 per cent, followed by Powergrid 4.48 per cent, NTPC 4.36 per cent, Axis Bank 3.97 per cent, ICICI Bank 3.64 per cent, Tata Motors 3.38 per cent, HDFC Bank 3.31 per cent, Wipro 3.15 per cent, Coal 2.96 per cent, ITC 2.82 per cent, Adaniports 2.68 per cent, GAIL 2.18 per cent, SBIN 2.01 per cent, HDFC 1.80 per cent, Reliance 1.61 per cent, SunPharma 1.61 per cent, Maruti 1.57 per cent and HeroMotoco 0.78 per cent.

However, Dr Reddy's was the biggest Sensex loser, down by 5.62 per cent, followed by TCS 1.38 per cent, Lupin 1.17 per cent, ONGC 0.72 per cent and M&M 0.24 per cent.

The total turnover during the week on BSE and rose to Rs 15,416.71 crore and Rs 90,767.97 crore, respectively, as against last weekend's level of Rs 14,123.73 crores and Rs 84,147.90 crores.

First Published: Sat, January 14 2017. 13:32 IST