Weekly: Sensex gains 100 pts as rupee rebounds

Benchmark indices made ​​a strong recovery during the week tracking a rebound in the rupee and falling oil prices . The recovery was led by strong gains in shares of IT and pharmaceutical companies .On the weekly basis, the 30 -share Sensex rose 100.28 points or 0.54 % , to 18619.72 . The 50 units Nifty ended flat at 5471.80 .The BSE Mid -Cap index S & P fell 1.09 % and the BSE Small -Cap S & P fell 1.07%.

SECTORS AND STOCKS

On Monday, after witnessing a volatile trading BSE Sensex was up 38.69 points or 0.21 % to 18558.13 . The CNX Nifty rose 4.75 points or 0.09 % , to 5476.50 .

On Tuesday , in the passage of the food bill in Lok Sabha raised fears that the government could face more subsidy burden . Sensex fell 590.05 points.Buzz by Life Insurance Corporation to buy indigenous helped stage a strong intraday rebound . Sensex up 28 points.

The recovery of the battered rupee , falling oil prices caused by U.S. comments President Barack Obama on Wednesday he has not decided whether to launch an attack on Syria and the weaker- than-expected orders for U.S. durable goods which rose on expectations that the Federal Reserve may delay plans to reduce the monetary stimulus to the U.S. economy , With the help of a rise in Indian stocks Thursday. The S & P BSE Sensex was up 404.89 points or 2.25 % , to 18401.04 .

On Friday , markets soared after the rupee rallied in volatile trading after Prime Minister said the government is considering imposing restrictions on the movement of capital out of the country while trying to calm investor concerns that damaged financial markets lately , especially the rupee , which has fallen sharply against the dollar this month. The S & P BSE Sensex was up 218.68 points.

Hero MotoCorp , HUL , RIL , Bajaj Auto, BHEL and NTPC gained between 1-7 % of the Sensex pack .

M & M , Maruti Suzuk , Bharti Airtel, HDFC , Tata Power, Larsen & Toubro , Tata Motors and ITC slipped between 0.1-4 %.

Shares of PSU oil and gas companies fell after crude oil prices rose during the week , fueling concerns of higher subsidy burden . Weekly ONGC was the top loser , above 9 % . Oil India and GAIL declined between 3-4% .

Jindal Steel & Power ( JSPL ) fell 7.71 % to 221.90 rupees. JSPL 's board approved the proposal to buy back shares through open market purchases ..

Coal India fell 7.15% and Tata Steel fell 2.83 %. However, Hindalco Industries rose 1.25 %.

Sesa Goa rose 22.50% to 187.30 rupees. They were the top gainers in the Sensex pack . Sterlite Industries replaced action on the benchmark 30- share BSE Sensex S & P earlier this week . Replaced Sesa Goa Sterlite Industries (India ) in the Sensex August 27, 2013 following the scheme of merger between the two companies in the Vedanta group , so Sterlite Industries (India ) merged with Sesa Goa. Sterlite Negotiating stopped the August 27, 2013 .

The banking sector witnessed selling pressure. ICICI Bank, State Bank of India and HDFC Bank fell between 2-6% .

Shares gained on a weak rupee . A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports. Positive economic data in the U.S. , The biggest outsourcing market for Indian IT companies also pushed stocks .

Wipro rose 7.92 % to Rs 483.90 after touching a 52-week high of Rs 495 in intraday trade on Friday, August 30, 2013 . Wipro on Thursday, August 29, 2013 , announced the launch of a range of information technology ( IT ) for the aviation industry .

TCS rose 10.67 % to Rs 2023.15 after hitting a record high of Rs 2,040 in intraday trade on Friday, August 30, 2013 .

Infosys rose 3.40% to Rs 3100.30 .

Pharmaceutical stocks were in demand . Dr. Reddy's Laboratories (up 8.29% ) , Cipla (up 5.29% ) and Sun Pharmaceutical Industries (up 2.47 % ) , rose .

Worldwide

Gross domestic product of India (GDP ) launched a four-year low of 4.4 percent in the April-June quarter of 2013-14 , compared with 4.8 percent in the fourth quarter last year , showed official data on Friday .

Amid slowdown in tax revenues and increased expenses of the Plan, the fiscal deficit of the Centre during the first four months of this year amounted to Rs 3.4 lakh rupees , 62.8 percent of the budget estimate (BE ) of Rs 5.42 lakh crore for 2013-14 , according to data released by the Controller General of Accounts .

FIIs

Foreign institutional investors (FIIs ) have downloaded shares worth a net Rs 5922.50 crore in August 2013 to date (up to August 29, 2013 ) . FIIs sold shares worth a net Rs 6086.10 crore in July 2013. FIIs have bought shares worth a net Rs 60169.80 crore in 2013 so far (up to August 29, 2013 ) . FIIs bought shares worth a net Rs 128,359.80 crore in calendar year 2012.

RUPEE

The rupee recovered amid high volatility after Prime Minister said the government is considering imposing restrictions on the movement of capital out of the country while trying to calm investor concerns that have recently hurt financial markets , especially the rupee , which has declined significantly against the dollar this month. The rupee moved to 66.10 yesterday, above its 66.55/56 close on Thursday. The rupee had risen sharply on Thursday after the Reserve Bank of India said it will sell dollars to the oil companies to defend the local currency. The rupee hit a record close of $ 68.80 on Wednesday.

CRUDE

U.S. crude futures retracted after UK lawmakers rejected a motion for military action against Syria , easing fears that the unrest will disrupt oil supplies from the Middle East . U.S. Crude oil futures for October 2013 delivery fell 94 cents a barrel to $ 107.86 a barrel in electronic trading Friday.

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