The bulls called the shots on Monday on the back of strong global cues. The Dow ended higher on Friday following the Fed decision to cut its discount rates. Among the 30-scrips of Sensex, 28 of them ended in green - Ambuja Cements and Cipla were the exceptions. All the BSE sector indices ended in green. Banking stocks were the major gainers with ICICI Bank and SBI ruling. The SBI board approved of the merger with State Bank of Saurashtra while the RBI permitted overseas investors to buy more shares in ICICI bank after the overseas investment in the bank fell below the 74% limit.
Tuesday saw a volatile market as the Sensex gyrated nearly 200 points and the Nifty around 40 points. The volatility continued on Wednesday. The market opened with a cut but recovered during the day. The Sensex and Nifty closed higher on both days and the market breadth remained positive.
Strong cues from the US and across Asia saw the Sensex zoom beyond the 15,000 level on Thursday. All the BSE indices ended in the green except for the Realty Index.
Thursday was the F&O expiry. The price differences in the August and September series were glaring. The September series contracts also saw the discount rise to 62 points on Thursday. The rollover in the September series contracts was lower at 66.2% for the Nifty futures (73% for the previous expiry) and 76.6 % for the stocks futures (83% for the previous expiry).
The week started on a good note and ended on one too.
Besides the 2 main indices, the BSE CD, BSE CG, BSE FMCG, BSE Metal, BSE Oil & Gas and BSE PSU were the sectoral indices that rose consistently during the week.
When last week's close was compared with Friday's close, all the Sensex stocks did pretty well. In fact, all came out with positive returns except Ambuja Cements and Cipla. Both had a negative return of (-)1.44% and (-)2.11% respectively.
Tata Steel gave a phenomenal return of 18.43%. Hindalco (11.24%), Mahindra & Mahindra (10.8%) and RIL (10.43%) were the other major gainers.