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Mar 08, 2013
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In top gear
Indian equities clocked in their first weekly gain after five weeks of decline, amid rallying global equity markets, while traders turned bullish ahead of the RBI’s monetary policy meet on March 19.The benchmark indices witnessed huge gains, their highest in the last 14 weeks after sliding more than 6% since February. They gained about 4% to end at their highest level in nearly a month. The 30-share Sensex and 50-share Nifty advanced 764.7 points and 247.2 points to 19,683.23 and 5,945.70, respectively.While IT stocks led the market rally for most of the week, blue chips from all sectors gained in the last two days. TCS and HCL Tech hit their all-time highs during the week, before ending with gains of 5.4% and 6.7%, respectively.Infosys also rode the momentum and climbed over the R3,000-mark for the first time in 23 months on Thursday before shedding part of the gains and closing the week at R2,970, up 2%. HDFC, Reliance Industries, L&T, HDFC Bank, SBI and ICICI Bank were other top gainers, rising 5-8%.
Source -
http://www.financialexpress.com
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