Monday, 7 September 2009
The Sensex rose over 300 points on Monday 7 September, when the G20 nations signaled that government stimulus measures would not end. In addition, the India Meteorological Department said recent monsoon rains may lower the water shortage facing farmers, hence boosting rural income. Stocks across sectors rose on the news.
Tuesday, 8 September 2009
On Tuesday, the sensitive index climbed to a 15 month high, on news that an economic recovery would boost domestic demand and corporate earnings. Sterlite Industries, Hindalco, Hero Honda, and State Bank of India, all saw strong gains for the day.
Wednesday, 9 September 2009
Stocks rose for a 4th day on Wednesday, led by metals companies, after metal prices surged. Reliance Industries also saw a surge as investors saw the stock as value after under performing the market over the last few months. The Sensex swung at least 14 times between gains and losses and more stocks fell more than gained for the day.
Thursday, 10 September 2009
On Thursday, the Sensex continued it’s winning streak, gaining for the fifth day. IT companies led the gains, after analysts raised the industry’s ratings on stronger growth in the US and Europe. IT companies derive 40% of their revenue from the US. Metals companies also rose after Steel Minister Virbhadra Singh, said demand for steel could surge by 6% this quarter.
ICICI Bank and HDFC Bank also climbed, after being upgraded by HSBC Finance. So far, the Sensex has increased 3.5% this month on news that GDP grew to 6.1% in the June to August quarter from a year earlier from 5.8% in the previous quarter.
Friday, 11 September 2009
Markets climbed on Friday after a choppy day of trade and ended higher on positive global cues. Top gainers were Hindalco, ICICI Bank, State Bank of India, Larsen and Toubro, and Wipro. Top losers included Sterlite Industries, DLF, Hindustan Uni lever, Tata Motors, and ACC. Sector indices ended the day mixed. Realty lost the most, followed by FMCG, Oil and Gas, Auto, Metal, Power, and Pharma. Gainers were led by Bankex, followed by IT, Telecom, and Capital Goods.