Weekly review: Sensex gains 243pts

The Sensex started the week on a subdued note ahead of F&O expiry on Thursday. The index touched a low of 14, 017 on weak cues from the global markets and selling in energy shares like ONGC and Reliance.

The index recovered in the last day of the week owing to fresh buying at the start of a new series and hopes of industry specific perks in the upcoming budget. The index added 765 points to the week's low to touch the week's high of 14,782.

The Sensex finally ended the week with a gain of 243 points (1.7%) at 14,765.

Jaiprakash Associates was the biggest gainer of the week and soared 10.5% to Rs 221 following news of a merger of its two subsidiary, Jaiprakash Hydro Power and Jaiprakash Power Ventures.

Larsen & Toubro surged 7.5% to Rs 1,611. ACC and HDFC rallied 6.5% each to Rs 1,611 and Rs 799, respectively.

Grasim gained 5.8% to Rs 2,373. ICICI Bank and BHEL added 5.5% each to Rs 754 and Rs 2,201, respectively.

Meanwhile, Sun Pharma crashed 13% to Rs 1,140 after the US FDA seized all drugs made by subsidiary, Caraco on charges of violation of manufacturing standards.

Ranbaxy slumped 9% to Rs 255. Tata Steel plunged 5.7% to Rs 388 on weak results. Mahindra & Mahindra shed 5.5% to Rs 697.