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| Weekly Review: Sensex up 1%, awaits Union Budget |
| BS Reporter / Mumbai Jul 04, 2009, 13:56 IST |
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The Sensex, this week, opened with a marginal positive gap at 14,816 and touched the week's high at 14,956. Throughout the week, the index was volatile as investors awaited the Union Budget due next week. On the first day of the month, the index slipped to the week's low of 14,356, down 600 points from the week's high. The Economic Survey and the Railway Budget on the last two days of trade was according to market expectations.
The Sensex finally ended with a gain of 149 points at 14,913.
Tata Steel soared 13% to Rs 438. ONGC surged 9% to Rs 1,135, following the governement's decison to raise the price of petrol and diesel. ONGC benefitted on hopes of a lightening of their subsidy burden.
HDFC, Mahindra & Mahindra and NTPC added 5-6% each to Rs 2,586, Rs 738 and Rs 204, respectively.
Meanwhile Tata Motors' stock reacted to the first FY09 loss in eight years. The stock plunged 12% to Rs 301. Reliance Communications slumped 6.5% to Rs 292. ACC shed 4% at Rs 767.
Hindalco slipped after reporting a loss in FY09. The stock dropped over 3% in a week to Rs 84.
Jaiprakash Associates, Hero Honda and ITC fell 2-3% each.
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