Market register gains for the week, rise 71 points
Stocks: The market registered gains for the week by rising 71.38 points to close at 31,596.06, while the broader Nifty garnered 19.65 points to finish at at 9,857.05.
The successive holiday shortened week saw the market maintaining its consolidation mode in the backdrop of global and domestic anxieties.
The largely range-bound momentum week witnessed domestic fund managers piling shares of healthcare, banking and financials other than key heavy weights in metal and oil&gas segments.
The market looked for direction, IT major infosys hit the most reacting to last week's resignation of company CEO Vishal Sikka despite share buy-back announcemnt.
However, the stock succeeded reclaiming some lost ground on former CEO Nandan Nilekani may be asked to join the board.
The market also perturbed by the BSE moving ahead to compulsorily delist 200 firms and bar their promoters as the these shares has remained suspended for over a decade.
Also unsupportive global sentiment twitched the market after President Donald Trump warning that he could risk a government shutdown to go for necessary funding to build a wall along the Mexican border to curb illegal immigrants.
also world conference of central bankers at Jackson Hole economic symposium.
The stock market was closed on Friday 25th August for 'Ganesh Chaturthi' holiday.
After opening at 31,609.93 points, the benchmark hovered between 31,678.19 and 31,220.53 before finishing the week at 31,596.06, showing a gain of 71.38 or 0.23 per cent.
The Sensex gained 311.09 points or 1.00 per cent last week.
The Nifty started the week at 9,864.25 and traded between 9,884.35 and 9,740.10 The index finally closed at 9,857.05, up 19.65 points, or 0.20 per cent. The Nifty gained 126.60 points during previous week.
The gains were led by HealthCare, Banks, Metal, Realty, Oil&Gas, IPO and PSUs followed by midcap and smallcaps.
Selling was seen in Power, Consumer Durables, Auto, IT, FMCG, Teck and Capital Goods counters. MORE
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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