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For the week ended April 24, 2009, 30 share index, Sensex rose 305.96 points, or 2.78%, to 11,329.05. On the other hand, the broad based NSE Nifty climbed 96.35 points, or 2.85%, to 3,480.75 in the same period. Mid-cap stocks gained 127.49 points, or 3.67%, to 3,600.09 in the week. While small-cap shares climbed 116.7 points, or 2.95%, to 4,068.26 during the week. Buying in shares of telecom, capital goods, private power, auto and select cement companies helped the indices to post strong gains followed by broader indices
The RBI, as part of its Annual Credit Policy, cut its key short-term rates by 25 basis points each on, 21 April 2009, to prop up growth amid global economic slowdown. The repo rate, at which the RBI lends to the banks, was cut to 4.75%, and the reverse repo rate, at which the RBI absorbs excess cash from banks, was reduced to 3.25%, effective immediately. The bank rate, used by banks to price long-term loans, remained at 6%. Banks' cash reserve requirements (CRR) were also left unchanged at 5%.
Bankex surged by 1.18% to close at 5,591.70 points over the previous week’s close of, 5526.33. Banking stocks mostly rose on hopes falling interest rates will boost lending growth. The big positives this week were Axis Bank and HDFC Bank whose results eased concerns about bank profitability. Axis Bank, gained Rs 18.75 to close at 528.75 while HDFC Bank, gained Rs 25 to close at 1110. Total Mkt. Cap for Bankex as on. Apr 24, 2009 was 3,624,889.07 (Rs in crores).
For the week ended April 17, 2009, the 30 share index, Sensex surged 219.23 points, or 2.03%, to 11,023.09. On the other hand, the broad based NSE Nifty climbed 42.35 points, or 1,27%, to 3,384.40 in the same period. Mid-cap stocks surged by 114.25 points, or 3.40%, to 3,472.60 in the week while, small-cap shares rose 184.01 points, or 4.88%, to 3,951.56 during the week. Meanwhile, India`s benchmark wholesale price index (WPI), inflation declined further to stand at 0.18% for the week ended Apr. 4, 2009 as compared to 0.26% a week ago. Inflation was at 7.71% during the corresponding week of the previous year.
BSE Bankex was the top gainer among sectoral indices on weekly basis. Markets witnessed huge buying in banking, especially SBI and ICICI Bank. SBI zoomed nearly 15% to Rs 1,306 while ICICI Bank soared 11% to Rs 398. Bankex surged by 9.53% to close at 5526.33 points over the previous week’s close of, 5045.27. Total Mkt. Cap for Bankex as on Apr. 17, 2009 was 3,525,088.15 (Rs in crores). Traders bought rate sensitive stocks like banks and realty ahead of RBI credit policy meet on 14th April.
For the week ended April 09, 2009, the 30-share index, (Sensex) of the Bombay Stock Exchange (BSE) ended at 10,803.86, up 455.03 points or 4.40 per cent, over the previous week’s close of 10,348.83 points. On the other hand, National Stock Exchange's Nifty closed at 3342.05, higher by 85.45 points or 4.07 per cent compared to last week
Gains were recorded across the board as significant buying was seen in medium and small enterprises’ stocks. The BSE midcap index ended 7.45 percent higher than its previous weekly close, while the BSE smallcap index was up 9.62 percent.
The BSE Banking index was among major gainers in the sectoral indices over the week. Bankex surged by 4.62% to close at 5,045.27 points over the previous week’s close of 4,822.39. Total Mkt. Cap for Bankex as on Apr. 09, 2009 was 3,431,584.81 (Rs in crores). ICICI Bank was the chief gainer, went up by Rs 29.7 to close at 397.7.
For the week ended April 02, 2009, the 30-share index, (Sensex) of the Bombay Stock Exchange (BSE) ended at 10,348.83 points, with a gain of 300.34 points, or 2.98%,, over the previous week’s close of 10,048.49 points. On the other hand, the broad based NSE Nifty rose 102.40 points, or 3.29%, to 3,211.05 in the same period.
Small-cap and Mid-cap shares also attracted good buying support, indicating that the retail investors are returning back to the market.Mid-cap stocks surged 191.26 points, or 6.51%, to 3,125.42 in the week. While small-cap shares increased 198.81 points, or 6.13%, to 3,436.92 during the week. Meanwhile, leaders of G-20 nations agreed to pump in USD 1.1 trillion to support the International Monetary Fund (IMF) to strengthen financial system to rescue the global economy facing the worst crisis since 1930.As a result, global markets rallied for the last two days of the week.
The BSE Banking index ended in the red while all other indices finished with gains between 1.87 per cent and 9.83 per cent. Bankex was among major losers in the sectoral indices over the week. Bankex was down by 0.13% to close at 4,822.39 points over the previous week’s close of 4,829.03. Total Mkt. Cap for Bankex as on Apr. 02, 2009 was 3,264,952.89 (Rs in crores). The major loser was ICICI Bank which lost Rs 19.75 to close at 360.25. Bank Of India also was down by 4 points to close at Rs 226.2.
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