Markets at a glance

Despite a weak session on Friday, markets ended the week on a positive note aided by strong Q1FY07 results reported by major players like ONGC, M&M and Bharti Airtel and firm Asian markets.

Even the short-term interest rate hike by RBI did not dampen the market spirit. Sensex leapt 594 points or 5.89 per cent to settle at 10,680.23. Nifty gained 185.8 points or 6.3 per cent to end the week at 3130.8.

FIIs and domestic mutual funds have been strong buyers. Together they have invested Rs 1823.72 crore in the first four trading sessions

Market breadth was extremely positive over the week with 28 out of the 30 Sensex stocks ending in the positive territory.

The biggest push to the Sensex came from ICICI Bank with the scrip gaining 11.9 per cent to close at Rs 542.75 thereby contributing 82.58 points to the index.

ONGC (up by 12.5 per cent), HDFC (up by 10.3 per cent), HDFC Bank (up by 12.2 per cent) and HLL (up by 8.2 per cent) together contributed 153.79 points to the index.

On the downside, only two stocks ITC (down by 1.3 per cent) and Hero Honda (down by 1.7 per cent) ended in red.

All the sectoral indices ended the week in the positive territory. BSE Bankex (up by 12.74 per cent) was the biggest gainer led by Bank of India (up by 23.7 per cent),Vijaya Bank (up by 22.07 per cent), Bank of Baroda (up by 21.1 per cent), Allahabad Bank (up by 17.2 per cent) and Punjab National Bank (up by 17.15 per cent).

BSE PSU (up by 8.71 per cent), BSE Capital Goods (up by 8.4 per cent), BSE Consumer Durables (up by 6.2 per cent) and BSE Healthcare (up by 5.22 per cent) were other major gainers.

The major indices logged solid gains for the week. The Dow Jones industrials ended the week up 2.14 per cent, ending at 11,100.43. The MSCI World index gained 3.77 per cent to close at 1,328.16.

The Nasdaq rose 1.69 per cent to end at 2,054.47. Spectacular earnings by corporates despite higher lending costs and energy prices and mild economic data paring the chances of more interest rate increases calmed investor's worries. 
 

BULK DEALS
Date	Stock	Client	Deal Type	Quantity	Price (Rs)
25-Jul-06	IVRCL Infrastructures & Projects	HSBC Global Investment Funds	Buy	575000	183.1
26-Jul-06	RPG Transmission	Standard Chartered Mutual Fund	Sell	200,000	83.00
26-Jul-06	DS Kulkarni Developers	Magna Umbrella Fund	Sell	343,644	209.75
26-Jul-06	Lloyd Electric & Engineering	Prudential ICICI Mutual Fund	Buy	205,000	107.00
26-Jul-06	S Kumars Nationwide	Citigroup Global Markets	Buy	1,351,508	53.86
27-Jul-06	Hindustan Dorr Oliver	DSP Merrill Lynch Ltd.	Sell	199,985	70.01
27-Jul-06	Century Textiles & Industries	ABN Amro Bank London	Sell	499,543	381.94
27-Jul-06	S Kumars Nationwide	Citigroup Global Markets	Buy	1,350,000	56.95
27-Jul-06	Hindustan Constructions	Fidelity Management	Buy	5,228,621	93.82
28-Jul-06	Bombay Rayon Fashions	HDFC Premier Multicap Fund	Buy	255,000	165.75

What to expect this week

Major companies like Grasim, Bharat Forge, Hindustan Lever and IOC are yet to announce their Q1 results. Rising crude oil prices, direction of global markets and interest rate movements by banks post RBI's hike in repo and reverse repo rates would continue to have their impact on domestic bourses.

Stock to watch 

BOMBAY RAYON FASHIONS
Last week's close (Rs)	165.45
Prev. week's close (Rs)	132.13
Week's high (Rs)	167.95
Week's low (Rs)	118.65
Last week's ave. daily turnover (Rs cr)	14.93
Prev. week's ave. daily turnover (Rs cr)	3.55
Number of up/down move	4/1

The scrip of Bombay Rayon Fashions attracted buying interest from HDFC Mutual Fund in the past week.

On Friday, the fund purchased 2.55 lakh shares at a price of Rs 165.75 each. Other mutual funds like ABN Amro, Kotak Mahindra, Reliance Capital, SBI and Standard Chartered together hold 6.3 per cent stake in the company.

The stock has gained 25 per cent over the week. The company reported a robust results in Q1FY07 with net sales growing over 40 per cent and net profit more than doubling quarter on quarter.Exports formed 46 per cent of total revenues.

Stock of the week 

NAGARJUNA CONSTRUCTION COMPANY
Last week's close (Rs)	249.75
Prev. week's close (Rs)	202.5
Week's high (Rs)	252.63
Week's low (Rs)	195.88
Last week's ave. daily turnover (Rs cr)	27.17
Prev. week's ave. daily turnover (Rs cr)	19.25
Number of up/down move	5/0

Nagarjuna Constructions company put up a spectacular performance, even as Sensex lost its four day winning sessions on Friday. The scrip jumped 23.07 per cent to settle at Rs 249.

The company bagged two major orders worth Rs 118 crore during the week from the Government of Chattisgarh for rehabilitation and upgradation of roads and construction work on Sanjay Sagar dam project.

This is in addition to the order of Rs 720 crore bagged in July itself from Sultanate of Oman for construction of a road project in Muscat.