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Positive end

Despite a good start, the market slipped during the week. But the month ended on a positive note. Global markets will keep directing sentiment. The good news is that crude oil fell this week

The week started on a good note. Asians markets did well and so did the Indian market. A report showing that US shoppers increased spending a day after Thanksgiving. Infosys and Wipro rose on this news. Hexaware Technologies slumped after the company said it made a provision to offset potential forex losses. Metal stocks were in demand with others like Realty, Power and IT stocks following suit. RIL, RPL, REL and RCom were amongst the 10 most active Futures.

On Tuesday, the Sensex opened with a negative gap. But it rebounded only to eventually close lower. This was on the back of weak international cues. BSE Realty and BSE Auto closed higher while BSE Metal and BSE Teck closed lower. Among the Sensex scrips, RIL, ICICI Bank, Bharti Airtel and Reliance Energy were among the major laggards, While, BHEL, SBI, Bajaj Auto and TCS were among the major gainers. Colgate Palmolive India Ltd gained after the company announced plans to reduce the face value of the shares to Re 1 from Rs 10 and declare a mid-year dividend.

Wednesday gave the bulls no respite. The fall was led by cues from the regional markets and selling pressure which emerged in the second half of the trading session. Concerns that the US economy is headed for a recession hit global sentiment. Crude oil and copper futures in New York fell on speculation that slowing economic growth will cut demand in the US. Goldman Sachs cut its rating on metal producers from “attractive” to “neutral”.

Thursday, the F&O expiry day, brought some cheer to the bulls. Among the 30-scrips of Sensex ICICI Bank, Reliance Industries, HDFC Bank and SBI were among the major gainers. While, Rcom, BHEL and REL were among the major laggards. Real estate stocks were back in the limelight after Maharashtra Assembly cleared repealing of the Urban Land ceiling Act according to reports. Orbit Corp, Peninsula Land, Bombay Dyeing and Akruti all gained.

Friday ended on a good note after US Federal Reserve Chairman reinforced speculation that borrowing costs will be cut to bolster growth. Infosys, Satyam, TCS and Wipro all rose. All sectoral indices rose while BSE Metal shot up from 16872.32 (Thurday's close) to 17730.5 (Friday's close). BSE Auto was the only that index rose this entire week.

When comparing last week's close with this week, HDFC was the biggest gainer (10%) while ACC was the biggest lower (-2.11%). All Sensex stocks closed positively except for four: ACC, Hindalco, Ranbaxy, Reliance Communications.



Vital Stats: November 26- 30, 2007
  Sensex  Nifty  BSE Mid Cap  CNX Midcap
Mon 19247.54 5731.70 8384.25 7757.25
Tue 19127.73 5698.15 8393.49 7829.55
Wed 18938.87 5617.55 8383.49 7745.80
Thu 19003.26 5634.60 8362.55 7718.85
Fri 19363.19 5762.75 8553.56 7993.70
Net Buying (Equity)
  FII  MF    
Mon 470.20 252.90  
Tue -263.60 128.60  
Wed -450.00 57.10  
Thu -977.60  -  
Figures in Rs/crore
  BSE Turnover  BSE Shares  NSE Turnover  NSE Shares
Mon 6035.19 3749.00 14541.15 5820.67
Tue 7281.00 3869.00 16400.50 6240.21
Wed 7472.89 4353.00 16187.45 6659.49
Thu 7677.18 4268.00 23732.10 8608.40
Fri 8457.32 4685.00 21963.78 8275.87
Number of shares in lakh. Turnover in Rs/crore.