SHREE GANESHAY NAMAH !!
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The market managed to wipe off sharp losses during the week, tracking a rebound in the rupee and a slide in oil prices. The 30-share S&P BSE Sensex edged higher, while the CNX Nifty ended flat. Recovery was led by strong gains in shares of IT and pharmaceutical companies. Life Insurance Corporation (LIC), the country's biggest institutional investor, was reported to have bought shares during the week.
In the week ended Friday, 30 August 2013, the 30-share S&P BSE Sensex rose 100.28 points or 0.54% to 18,619.72. The 50-unit CNX Nifty ended flat at 5,471.80.
The S&P BSE Mid-Cap index fell 1.09% and the S&P BSE Small-Cap index fell 1.07%. Both these indices underperfored the Sensex.
Foreign institutional investors (FIIs) have offloaded shares worth a net Rs 5922.50 crore in August 2013 so far (till 29 August 2013). FIIs sold shares worth a net Rs 6086.10 crore in July 2013. FIIs have purchased shares worth a net Rs 60169.80 crore in 2013 so far (till 29 August 2013). FIIs bought shares worth a net Rs 128359.80 crore in calendar 2012
Q1 GDP at 4.4% vs 4.8% (QoQ); consumption demand down
C Rangarajan sees second half of the year to be better than first half, primarily because of agriculture growth. Manufacturing will also see a pick up in from third quarter onwards.
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