BackStock market indices hit new high this week
Stock market indices hit new high this week
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New Delhi: The Sensex surged by over 12% during the week to close at 10,348 on Thursday. The Nifty on other hand moved up by 301 points close at 3108 in the same period. The markets were closed on Friday.
The week started on a weak note. On Monday Indian stocks fell the most in three months after the news that US banks may need more government aid and ended 480 points lower. The Sensex ended on a positive note on Tuesday on speculation that stimulus measures would help revive the global economy. On Wednesday the rally continued, followed by firmness on Thursday. The market closed the day with big gains because of buying in the metal and healthcare stocks.
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Most sectors made good gains this week. Metals surged by 16.15%, Oil & Gas was up 12.80%, Capital Goods by 12.70% and Power by 9.70%. Tata Steel, ICICI Bank, HDFC Bank, Reliance Capital and Sterilite were the top gainers of the week.
Next week the market may see some profit booking and a minor correction. The market will trade only for three days next week on account of public holidays.
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