The week gone by saw markets jump sharply on Thursday and the gains registered on that day were enough to keep indices in positive territory. BSESENSEX gained 497.37 points or 1.30 per cent to close at 38.854.55 points while NIFTY gained 130.60 points or 1.15 per cent to close at 11,464.45 points. The broader markets saw BSE100, BSE200 and BSE500 gain 1.07 per cent, 0.91 per cent and 0.77 per cent respectively. BSEMIDCAP lost 1.06 per cent while BSESMALLCAP was down 0.31 per cent.
The Indian rupee lost 40 paisa or 0.55 per cent to close at Rs 73.54 to the US Dollar. Dow Jones was under pressure and lost 467.67 points or 1.66 per cent to close at 27,665.64 points.
Markets last week were a mixed bag and the final weekly outcome is certainly not reflected in the numbers. While indices were up between 1.15 per cent and 1.30 per cent the benchmark indices components were largely down. Reliance Industries was the notable exception, gaining a massive Rs 242 or 11.65 per cent. This translates to roughly 1.4-1.5 times the weekly gains on the SENSEX and NIFTY. Bulk of the gains in Reliance came on Thursday when the stock gained Rs 154 and SENSEX was up by 647 points. The important news for Reliance was the investment by Silver Lake of Rs 7,500 crore to buy 1.75 per cent in RRVL (Reliance Retail Ventures Limited) valuing the company at Rs 4.21 lakh crore. This also made the market cap of Reliance Industries to cross 200 billion dollars, making it the first Indian company to do so.
The two primary market offerings which opened and closed during the week had a fantastic response and showed that retail investors are more than willing to invest in the primary