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Our Bureau

Mumbai, Dec. 5 The benchmark indices ended in the red this week, while mid-cap and small-cap indices showed relatively firm trend.

Analysts said that expectations of something positive from the fiscal package from Government, which Indian industry is looking forward to, could have boosted mid-cap and small-cap stocks.

“The fiscal package to shore up our economy would be more beneficial for smaller companies than the large caps. And these stocks have been hammered more than the large caps, so there was some amount of value buying in these scrips this week,” said Ms Anita Gandhi, Head of Institutional Business at Arihant Capital Markets.

The Sensex fell by 1.40 per cent to 8,965.20 and the Nifty fell 1.47 per cent to 2714.40 in the week ended Friday.

The Mid-Cap index gained 1.63 per cent to 2,892.95 and the Small-Cap index rose 0.78 per cent to 3,323.54 in the week. Both the indices outperformed the Sensex.

Among the sectoral indices, the BSE Realty index rose 8.4 per cent on reports that the Government will unveil measures for the realty sector, which may include incentives for low-cost housing and lower loan rates.

Indiabulls Real Estate (up 9.75 per cent to Rs 103.60), DLF (up 2.4 per cent to Rs 203.15), Unitech (up 33.33 per cent to Rs 30.80) gained.

The metal index gained more than five per cent this week. Tata Steel jumped 21.10 per cent to Rs 182.80 after the company reported a 215.77 per cent surge in consolidated net profit to Rs 4,703.64 crore on a 36.17 per cent increase in total income to Rs 44,283.34 crore in Q2 2008 over Q2 2007.

But the auto index slipped 3.5 per cent on dismal November 2008 monthly sales figures. Mahindra & Mahindra, Hero Honda, Bajaj Auto, Maruti Suzuki fell between 2 per cent and 11 per cent during the week.

Tata Motors gained 12.28 per cent to Rs 153.10 on reports the Government is mulling excise duty cut on trucks and buses as well as extending the special line of credit for non-banking financial companies that are instrumental in financing commercial vehicle sales.

The IT sector was down close to eight per cent this week on increased worries about the dwindling US economy.

“Indian IT firms derive a large part of revenue from exports to the United States,” said an IT analyst with a brokerage.

Satyam Computer Services, Infosys, Wipro and Tata Consultancy Services dipped during the week.

FIIs were net sellers of equities for Rs 443.85 crore this week, while the DIIs have been net buyers for Rs 415.96 crore.

Marketmen said that with inflation stabilising and cuts in the petrol and diesel prices, markets could be stable through next week.

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