Markets at a glance

Markets shrugged off the impact of the serial bomb blasts in Mumbai and ended the week with solid gains.

For the week, Sensex leapt 169 points or 1.61 per cent to settle at 10678.22 and Nifty jumped 47.5 points or 1.5 per cent to end the week at 3123.35.

Strong Q1 results of Infosys helped the markets to recover amid volatility due to alternate bouts of buying and selling, weak global markets and rising crude oil price.

In July, till date, FIIs have pumped in Rs 807.10 crore and mutual funds have offloaded to the tune of Rs 737.44 crore.

Market breadth was positive with 20 out of the 30 Sensex stocks ending in the positive territory. The biggest push to the Sensex came from Infosys with the scrip gaining 6.4 per cent to close at 1650.75 thereby adding 67.97 points to the index.

Reliance Industries (up by 3.2 per cent), Reliance Communication (up by 8.6 per cent) and TCS (up by 7.3 per cent) were other gainers adding another 83.44 points.

On the downside, HDFC Bank was the biggest loser with the scrip losing 7.2 per cent to close at Rs 728.55 thereby shaving off 21.94 points from the index. ICICI Bank (down by 2.7 per cent), Tata Motors (down by 3.9 per cent) and Bajaj Auto (down by 2.9 per cent) were other losers.

Except BSE Bankex (down by 2.37 per cent), BSE Auto (down by 2.22 per cent) and BSE Consumer Durables (down by 0.77 per cent), all other sectoral indices ended the week in positive territory.

BSE IT (up by 6.29 per cent) was the biggest gainer led by I-Flex (up by 15.9 per cent), HCL Technologies (up by 13.8 per cent), and TCS (up by 7.3 per cent). BSE Teck (up by 4.96 per cent), BSE Oil & Gas (up by 1.84 per cent) and BSE FMCG (up by 1.25 per cent) were other major gainers.

US markets went through a turmoil amid concerns about a potential slowdown in the global economy. The Dow Jones Industrial Average ended the week down 351.52 points, or 3.17 per cent, closing at 10,739.35 points.

The S&P 500 index lost 29.28 points, or 2.31 per cent, to close at 1,236.20 points and the Nasdaq dropped 92.71 points, or 4.35 per cent to close at 2,037.35 points.

What to expect this week

There are results scheduled next week from biggies such as HDFC, GAIL, Wipro, Gujarat Ambuja Cements, IPCL, Ranbaxy, ACC, Satyam Computer and ITC. Movement of crude oil prices are also likely to trigger inflation fears thus impacting sentiment.

Stock to watch 

S KUMARS NATIONWIDE
Last week's close (Rs)	49.05
Prev. week's close (Rs)	47.85
Week's high (Rs)	50.58
Week's low (Rs)	44.13
Last week's ave. daily turnover (Rs cr)	9.33
Prev. week's ave. daily turnover (Rs cr)	5.98
Number of up/down move	3/2

The stock of S Kumars Nationwide bore the brunt of a huge sell-off of mid-cap counters post May, 10. But it has recovered with a gain of 22 per cent over the past month.

Citigroup Global Markets bought 11.6 lakh shares in the company at Rs 47.5 per share. The company is the only integrated textile major, operating across different business segments like consumer textiles, home textiles and ready-to-wear solutions.

It started FY2007 with a robust growth of 29 per cent and 43 per cent in sales and profits respectively.

Stock of the week 

ANSAL HOUSING & CONSTRUCTION
Last week's close (Rs)	192.95
Prev. week's close (Rs)	130.25
Week's high (Rs)	196.80
Week's low (Rs)	127.00
Last week's ave. daily turnover (Rs cr)	3.38
Prev. week's ave. daily turnover (Rs cr)	1.62
Number of up/down move	5/0

Stock of Ansal Housing and Construction surged by 48.14 per cent over the last week on the launch of a new housing project - Ansal Town in Agra worth Rs 200 crore.

Besides this, the company has major expansion plans with total of 1,200 acres of township projects and 1 million sq ft of condominium projects over the next 3-4 years.

The stock has shot up by 20 per cent over the last one month. The company ended the last fiscal with sales growing by 57 per cent at Rs 125 crore and net profit increasing by 238 per cent at Rs 20.6 crore.