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Sensex gives 4.5% returns in September so far

Sensex gives 4.5% returns in September so far
PTI
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First Published: Sun, Sep 13 2009. 12 00 PM IST
Updated: Sun, Sep 13 2009. 12 00 PM IST
Mumbai: The Bombay Stock Exchange barometer Sensex gave a return of 4.58% to investors in the first two weeks of September on the back of investments by the overseas fund houses.
The benchmark index gained 713.11 points, or 4.58%, in the first two weeks of the month to settle at 16,264.3 points on 11 September.
The 30-share index lost 174.22 points at 14,300 levels, giving investors a negative return of 1.20%, in the comparable period last year.
In terms of broader market performance, the Mid-cap and the Small-cap indices gave returns of 2.14% and 3%, respectively, during the first two weeks of September
“Last year the overall market sentiment was negative ... Investor were under panic and the market witnessed broad-based sell off. Now, the market has recovered and has now stepped into the bullish trajectory,” SMC Global vice president Rajesh Jain said.
Foreign institutional investors made net investment of Rs2,086 crore in equities in the first two weeks of September, against a net outflow of Rs2,935.90 crore in the comparable period last year.
Among the sectoral indices, the BSE metal index gave the biggest return of 11%, while last year it gave a negative return of 10%.
Other major sectoral gainers include banking (7.64%), oil & gas (5.86%), IT (4.26%) and PSU (3.73%).
“In the bearish mode metal stocks are the hardest hit as the industry demand falls. Whereas in the bull market, as demand recovers metal tends to gain,” Jain added.
With improved liquidity in the system backed by investments from both domestic and institutional investors, the country’s stock market witnessed an uptrend, he said.
Other sectoral indices which gave positive returns were consumer durables (3.41%), technology (3.40%), capital goods (2.59%), pharma ( 2.21%), power (0.70%) and auto (0.13%).
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First Published: Sun, Sep 13 2009. 12 00 PM IST
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