The week started with the Sensex closing above the 15300 mark and Nifty above the 4500 mark. But the next day, the market slumped.
On Monday, IT stocks had a disappointing session as the Indian rupee further strengthened against the US Dollar. Satyam Computers, Wipro, Infosys, Mphasis, HCL Tech and NIIT Ltd all lost. But the very next day, they recorded gains despite the market falling. TCS surged after the company announced its Q1 result with net profit and revenues up 37% and 26% respectively.
Similarly, on Monday, banking stocks moved higher on the hopes that the RBI would not tamper with the interest rates. But on Tuesday, the reverse took place and they were at the receiving end.
The market continued its upward trend for the rest of the week.
FIIs remained net buyers every single day while mutual funds old heavily the first three days of the week.
The BSE Auto index had a volatile week, dropping on Tuesday, picking up on Wednesday and Thursday but slumping again on Friday. The BSE Bankex followed the identical pattern. Yet. Bajaj Auto was the best performing Sensex stock (7.01%) though Tata Motors and Maruti Udyog ended in the red. Amongst banking stocks, SBI and ICICI Bank closed in the green but HDFC in the red.
The BSE Healthcare and BSE IT indices moved upwards to fall on Friday. As a result, Dr Reddy's and Ranbaxy closed in the red. Cipla was the worst performing Sensex stock (-4.94%). TCS and Infosys ended in the green but Wipro and Satyam Computers closed in the red.
Cement stocks did well with ACC, Grasim and Gujarat Ambuja posting gains.
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