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Renewed buying by foreign funds mainly in refinery, auto and metal counters amid firm global markets helped the BSE benchmark Sensex to bounce by 215 points during the week under review.
The BSE and NSE were closed on April 22 on account of “Good Friday’’.
Prediction of normal monsoon by India Meteorological Department for this year also boosted investors’ sentiment as a good rainfall could boost rural income, impacting positively on the sales of automobiles, fast moving consumer goods (FMCG) and consumer durables.
Refinery counters too were in keen demand ahead of the Q4 results from the top heavyweight RIL on Thursday. Metal stocks also attracted good buying support following rise in metal prices at the London Metal Exchange during the week.
Weak dollar overseas, too, helped the rise in commodity prices globally.
The main movers, Foreign Institutional Investors (FIIs), picked up shares worth Rs 2,044.09 crore during the week, including provisional data of April 21.
The BSE benchmark Sensex resumed higher at 19,389.74 and hovered in a range of 19,695.98 and 18,976.19 before settling the week at 19,602.23, showing a net gain of 215.41 points or 1.11 per cent.
The NSE 50-share Nifty also shot up by 60.15 points or 1.03 per cent to close at 5,884.70.
Rise in Asian and European markets during the week following smart surge on Wall Street due to better-than-expected results by some corporates also aided the sentiment.
Meanwhile, in a reversal of a three-week declining trend, food inflation shot up to 8.74 per cent for the week ended April 9 from 8.28 per cent in the previous week.
The country’s largest state-run oil explorer, ONGC, was the top gainer from the Sensex pack with a rise of 5.99 per cent while the top heavyweight RIL gained 2.07 per cent, resulting in the BSE-Oil & Gas index spurting by 2.77 per cent.
Mahindra & Mahindra was the second gainer with a rise of 5.49 per cent followed by Maruti Suzuki (3.68 per cent) and Bajaj Auto (3.12 per cent). The BSE-Auto index was the second top gainer from the sectoral indices with a surge of 2.36 per cent.
Other major gainers were Hindalco (4.69 per cent), Hindustan Unilever (4.51 per cent), Sterlite Industries (4.11 per cent), HDFC (3.57 per cent), Jindal Steel (2.99 per cent), Wipro (2.93 per cent), Jaiprakash Associates (2.55 per cent), SBI (1.99 per cent), HDFC Bank (1.81 per cent), Tata Power (1.78 per cent) and ICICI Bank (1.42 per cent).
Among the other sectoral indices, the BSE-Metal shot up by 1.98 per cent, BSE-CD 1.6 per cent and the Bankex by 1.21 per cent while the BSE-Capital Goods fell by 2.4 per cent, the BSE-Power 1.68 per cent and the BSE-Realty by 1.2 per cent.
The total turnover on the BSE and NSE rose to Rs 23,630.21 and Rs 50,834.00 crore, respectively, compared to the previous week’s level of Rs 9,743.05 crore and Rs 37,966.50 crore.
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