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Dream Run

The bulls and the men in blue were all at their impressive best. And, investors and cricket fans across the nation could not stop rejoicing at their feats.

As millions of dollars were pumped in by foreign investors, the markets scaled new highs. In fact, the week started with a bang. Even the turnover was at its all-time high registering a whooping Rs 1.06 lakh crore. The Reliance pack led the rally. Reliance Natural Resources Ltd (RNRL), Reliance Petroleum Ltd (RPL), Reliance Industries Ltd (RIL), Reliance Capital (RCL) and Reliance Energy Ltd (REL) all gained while Reliance Industrial Infrastructure Ltd (RIIL) remained frozen (opened and closed at Rs 1147.40). Tech stocks declined as the rupee rose.

Despite a volatile session on Tuesday, the market staged an impressive recovery. Realty and auto stocks were hit but pharma and IT stocks managed to stay afloat. Refinery stocks IOC, HPCL and BPCL rose once the government said it may give oil bonds to stem losses. SBI and L&T closed lower.

Within minutes of trading on Wednesday, the Sensex crossed 17,000 and wild intra-day gyrations took place during the session. Tech stocks picked up after the government indicated that it may take steps to help exporters cope with the rising rupee.

Thursday saw the Sensex touch a high of 17,188.40 and a low of 17,018.56. Tech stocks continued moving upward. Friday left the bulls cheering the entire weekend.

Vital Stats: September 24- 28, 2007
   Sensex   Nifty   BSE Mid Cap   CNX Midcap
Mon 16845.83 4932.20 7310.14 6701.10
Tue 16899.54 4938.85 7313.33 6695.25
Wed 16921.39 4940.50 7352.62 6740.85
Thu 17150.56 5000.55 7331.96 6723.15
Fri 17291.10 5021.35 7422.43 6867.20
Net Buying (Equity)
   FII   MF     
Mon 1284.40 -35.40  
Tue 1550.30 -430.60  
Wed 1004.00 -517.50  
Thu N.A. 92.70  
Figures in Rs/crore
   BSE Turnover   BSE Shares   NSE Turnover   NSE Shares
Mon 7783.09 6575.00 18831.89 11256.10
Tue 7491.05 6675.00 17805.26 10955.80
Wed 7811.92 7474.00 16977.53 11353.00
Thu 7750.07 6221.00 20797.43 10170.50
Fri 7951.21 6330.00 17595.05 9186.75
Number of shares in lakh. Turnover in Rs/crore.

BSE Healthcare, BSE Metal and BSE PSU went up consistently the entire week. BSE IT slumped on Friday. Reliance Energy (19.40%), Tata Steel (14.79%) and ICICI Bank (10.15%) were the biggest gainers. There were only 3 losers this week: ITC (-0.58%), Ambuja Cements (-2.31%) and Mahindra & Mahindra (-2.54%).