Sensex nudges past 17,000-mark, adds one percent (Weekly Market Review)

Benchmark indices of Indian equities markets struggled to add significant gains this week, even as conditions remained uncertain in economies and bourses around the world.

The 30-share sensitive index (Sensex) ended 173.02 points or 1.03 percent higher at 17,021.85 points at its weekly close Friday, as opposed to the previous week's close at 16,848.83 points.

The broader S&P CNX Nifty of the National Stock Exchange (NSE) too moved up 1.07 percent or 53.5 points from its last weekly close to end at 5,052.45 points.

Broader market indices added to their weekly tally as well, with the BSE midcap index ending 0.73 percent up and the BSE smallcap index rising 1.593 percent.

The week started with a bang with the Sensex adding 183.68 points or 1.09 percent to end trade at 17,032.51 points. Monday was a good day for the Nifty as well, with the index rising 1.18 percent to shut shop at 5,058.05 points.

Tuesday was marked by bouts of volatility with the Sensex swinging in a range of nearly 200 points and ending flat. It closed at 17,050.65 points, 18.14 points or 0.1 percent up from its last close.

Markets weakened Wednesday with selling pressure pulling down the Sensex 51.87 points, while the Nifty also closed in the red at 5,054.7 points, down 0.15 percent from the last close.

Profit booking added to the drag in the Sensex Thursday, which fell by 213.13 points, or 1.25 percent at 16,785.65 points. The Nifty fell below the 5,000-mark to close at 4,989 points with a loss of 1.3 percent.

Friday, however, saw the benchmark indices recouping most of its losses with the Sensex ending the week with gains of 236.2 points or 1.41 percent at 17,021.85 points.

The Nifty too followed a similar trajectory and closed 1.27 percent up at 5,052.45 points.

Data with markets watchdog Securities and Exchange Board of India (SEBI) showed that foreign funds were net buyers during the week, having bought scrips worth $461.2 million.

The top gainers in the Sensex were Tata Steel (up 6.2 percent), Reliance Capital (up 5.1 percent), Hero Honda (up 4.6 percent), Maruti Suzuki (up 4.4 percent) and ACC (up 3.7 percent).

Among losers were Reliance Infrastructure (down 4.9 percent), Bharti Airtel (down 4.4 percent), ICICI Bank (down 1.3 percent), ONGC (down 1.3 percent) and Tata Power (down 0.7 percent).

Last updated on Nov 21^st, 2009 at 12:58 pm IST--IANS