If any trader was suffering from lethargy on Monday, the markets made sure he was cured of it instantly. The markets tumbled on Monday, and how! The Sensex fell to 12, 415.04 (from 12,886 on Friday) and the Nifty to 3,576.50 (from 3,726.75). The mid-cap and small-cap indices also fell. FIIs were net buyers to the tune of Rs 324.9 crore. Mutual funds sitting on cash and waiting for good bargains also were net buyers to the tune of Rs 191.87 crore.
If the Monday fall was attributed to the Yen falling in value against the dollar, the Tuesday rebound was due to a reversal in the value of the Yen versus the dollar. On Tuesday, the Sensex closed at 12,697 and the Nifty at 3,655.65. Large-caps like Infosys, ACC, Bharti Airtel, TCS and L&T drove the rally along with select mid-caps. Technology, banking, telecom, pharma, auto and capital goods stocks did well.
When the markets picked up, FIIs and mutual funds turned into net sellers to the tune of Rs 313 crore and Rs 17 crore, respectively. Though the markets picked up on Tuesday, turnover was much less. The turnover on the BSE was Rs 3,816 crore (as against Rs 3,966 crore on Monday). On the NSE it was Rs 8,361 crore (as against Rs 8,551 crore).
The bulls did not hold out for long. On Wednesday, the Sensex closed lower at 12,579.75 and the Nifty at 3, 626.85, after an extremely volatile trading session. Mutual funds and FIIs sold heavily (Rs -379.56 crore) and (Rs -570.4 crore). Turnover was up at Rs 4327.59 crore (BSE) and Rs 8881.84 crore (NSE).
Thursday saw the bears running for cover and the Sensex closed at 13,049.35 and the Nifty at 3,761.65. The Sensex recorded its biggest single day gain in eight months led by gains in the banking, capital goods, metal and telecom stocks. Mid-caps also participated in the rally and all sectoral indices ended in the green. FIIs were net buyers to the tune of Rs 84.1 crore. Mutual funds continued to be net sellers to the tune of Rs 39.56 crore. Turnover dropped to Rs 3778.85 crore (BSE) and Rs 7954.06 crore (NSE).
On Friday the markets opened in the green and ended in the red. All the BSE indices lost except the consumer durables index. Cement, FMCG, oil & gas and auto stocks were the hardest hit. The Sensex closed at 12884.99 and the Nifty at 3718. FIIs continued their buying streak and were net buyers (Rs 115.9 crore). Friday also recorded the highest turnover for the week, Rs 4,339 crore (BSE) and Rs 9,641 crore (NSE).
The biggest gainers this week were Bharti Airtel (6%) and HDFC Bank (3.46%). The biggest losers were ACC (-8.731%), ITC (-7.32%) and Hindalco (-7.07%).
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