Sensex up 5.17% in the week

The BSE benchmark Sensex recovered sharply by 5.17 per cent during the truncated week under review.

Written by Agencies | Mumbai | Published:March 14, 2009 1:39 pm

Moving in tandem with the global markets and expecting early revival in the economy,the Bombay Stock Exchange benchmark Sensex recovered sharply by 5.17 per cent during the truncated week under review.

The market was closed on March 10 and 11 on the occasions of Id-E-Milad and Holi.

On the first day of the week,bearish global trends weighed on the local bourses and the Sensex fell by 165 points registering its 40-month closing low of 8,160.40 on all-round selling by foreign funds and operators.

However,a smart rally in world markets,fall in the inflation and rise in auto sales helped the key index to notch up handsome gains on the last two trading days.

Fresh buying by foreign institutional investors (FIIs) on the concluding day of the week led the 30-share index to register its biggest gain in the current calendar year.

The BSE barometer moved in a range of 8,793.21 and 8,110.10 before ending the week at 8,756.61 points,a smart rise of 430.79 points over the last weekend’s close.

In the preceding week,the Sensex had plunged by 566 points,or 6.36 per cent.

The broader 50-issue Nifty of National Stock Exchange also recouped by 99.10 points,or 3.78 per cent,to settle at 2,719.25 against 2,620.15 of last weekend.

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