Weekly Review: Markets surge above key levels this week

Buying in specific sectors and FIIs investments buoyed markets above key levels this week. The Sensex and Nifty crossed 20,000 and 6,000 for the first time since January 2008.

Foreign Institutional Investors have already invested Rs 17,499.43 crore till September 23 - showing that they are upbeat on a strong economic growth in India.

The Sensex jumped on Monday as companies reported good advance tax numbers. Tuesday saw the index soaring further to cross the 20K mark on global cues coupled with FIIs buying. In spite of slipping on Wednesday and Thursday, the markets rebounded on Friday to touch the week's highest. The Sensex touched 20,106 while Nifty soared to 6,029.

The BSE benchmark finally ended with gains of 450 points (2.3%) this week at 20,045. Nifty jumped 133 points (2.3%) to 6,018.

The BSE small and mid-cap indices however, underperformed the broader indices. Mid-cap index ended up 11 points at 8,115. Small-caps jumped 28 points to 10,267.

Among the mid-cap gainers, South Indian Bank, JSL Stainless, JSW Holding soared 14-16% each. Punj Lloyd and GSK Consumer Healthcare jumped around 10% each. Dunlop Idnia, CCL Products, COnfind Petro and Henkel India were the big gainers among small-caps this week.

Among the sectoral indices FMCG indices jumped 5.3% to 3,752 buyoed by heavyweights on hopes of a price hike. Hindustan Unilever touched its all-time high of Rs 318 and ended at Rs 315 - up 12%. ITC surged 6% to Rs 168. Colgate Palmolive and Tata Global Beverages also jumped this week.

Consumer Durables and Auto indices also edged up over 2% each. Among Auto stocks, Maruti Suzuki gained 7% at Rs 1,481 on a 33% jump in domestic sales to its highest ever monthly sales of 92,674 units. Other Sensex auto stocks - Hero Honda (up 6.5%) and Tata Motors (up 3.3%) gained smartly. However, Amtek Auto and Apollo Tyres dropped 3-4% each.

Meanwhile, the BSE oil & gas index shed 1% to 10,646 as market heavyweight, Reliance, slipped 3.6% to Rs 329. Reports have suggested that the company is in talks with US-based Chesapeake Energy to buy a stake in Eagle Ford shale gas project in the US. Cairn India dropped 3.6% to Rs 329. However, Aban Offshore, BPCL, ONGC and Indian Oil gained 2-3% each.

Among the Sensex stocks, Hindustan Unilever stole the show. HDFC soared 7% to Rs 732. Wipro gained 6% at Rs 446.

Tata Power surged 5% to Rs 1,328. Tata Steel, DLF and HDFC Bank added 4% each to Rs 630, Rs 366 and Rs 2,491, respectively.

Bharti Airtel, Larsen & Toubro, Cipla, Infosys, TCS and Reliance Communications were some of the other major gainers.

On the other hand, Jindal Steel dropped 2.2% to Rs 693. Jaiprakash Associates, Sterlite and ICICI Bank were down in trades as well.