The markets gained momentum during the week, pushing the Sensex and Nifty above their pivotal levels of 20,000 and 6,000 mark, respectively. Strong FII inflows, rally among global markets, strong corporate earnings and better than expected IIP nos saw Indian Indices touching greater heights.
Strong corporate earnings from heavyweights like HDFC and the IIP nos, which grew by 2.5% for the month of March 2013, buoyed the street. IIP nos were not only higher than the previous month's figure of 0.6%, but also higher than street's expectation, mainly on the back of manufacturing sector.
The 30 share index, Sensex surged 506.98 points, or 2.59% over last week to 20,082.62. The NSE Nifty advanced 150.75 points or 2.54% to 6,094.75. Meanwhile, mid and small-caps gained 2.25% and 2.22% respectively. FIIs were net buyers to the tune of Rs 4,918 cr during the last 5 trading sessions.
On sectoral front, FMCG, Auto and Consumer Durables were the major gainers during the week.
On Monday, markets opened positive tracing Asian cues with IT stocks continuing their recovery. Metal stocks too witnessed strong upmove. Rupee traded higher tracking gains in Asian currencies. Indices surged in the afternoon session with Banks too recovering despite Cobrapost naming major PSU banks and insurance companies in money laundering scam. Sensex ended at 19,673 mark.
On Tuesday, Indices opened higher with Nifty hovering around the 6,000 level after the S&P closed at fresh highs and Japan's Nikkei scaled to near five-year peak levels. Firm trend prevailed backed by record buying from FIIs. Nifty hit 3-month high powered by strong buying in Banking, FMCG, Realty and Pharma stocks. Sensex surged 215 pts to close at 19889.
On Wednesday, markets opened higher following US markets rallying to new record highs with Dow closing above 15,000 levels for the first time ever. Upbeat momentum prevailed with HDFC, Tata Motors, ONGC, TCS and Hindalco being the top gainers in the Sensex. Buying intensified in the final hour with Sensex crossing 20K for first time since Jan 31, 2013. Sensex jumped 101 pts to close at 19990.
On Thursday, Indices opened on a marginally higher note with Tech stocks hogging the limelight following strong Q1 numbers by Cognizant. However, markets turned flat after Sensex touched 20K mark. Sensex slipped 51 pts to end at 19939.
On Friday, markets gained strength after opening flat with Maruti, ONGC, NTPC and M&M among early gainers. March IIP surged to 2.5% vs 0.6% in Feb, while firm opening of European markets added impetus to the rally. Auto, Consumer Durables, Banks, FMCG stocks led the rally. Sensex spurted 144 pts to close at 20083.
On Saturday, the Bombay Stock Exchange and National Stock Exchange on Saturday conducted a two-hour special live trading session in the cash, derivative and securities lending and borrowing segments from 11am to 12:45 pm.
Markets ended flat with a positive bias in a special two-hour trading session on Saturday amid lack of participation by institutional investors, led by gains in pharma shares. The 30-share Sensex ended up 40 points at 20,122.