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Journalism of Courage
The 30-share benchmark index,Sensex,ended the last week with a gain of 1.54 per cent at 18,143 points as compared with the last weeks closing at 17,868 points.
During the last week of July,indices were in red. However,however if we look in totality,it ended in range with no major surprises. The results of some of the majors like Reliance,ONGC,Maruti,Hero Honda and Wipro failed to spark the sentiments in India. Most of the results remain within range of expectations however there were a few exceptions in banking,with a lot of positive surprises. Overall the result season has gone as mixed bag leaving indices to struggle in a range, said KN Rahaman,deputy research head,Way2Wealth Securities.
During the week capital goods index was down by 4.82 per cent,oil amp; gas registered a loss of 3.49 per cent and realty closed at 3.23 down compared with its last weeks closing. All these three sectors were the worst performer mainly on account of dismal numbers from the frontlines in the sector. Lamp;T,Siemens,ONGC,Reliance,HPCL,DLF,Unitech failed to show positive sparks. On the other hand banking has been the outperformer with most of the banks coming out with impressive set of numbers like HDFC,BOI,Allahabad bank,OBC,ICICI etc. Sectors like FMCG,Consumer durables and IT has also managed positive closing, said Rahaman.
