Stock market gains 1% on budget hopes

Stock market gains 1% on budget hopes
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First Published: Sun, Jul 05 2009. 07 48 PM IST
Updated: Sun, Jul 05 2009. 07 48 PM IST
Monday, 29 June, 2009
Stocks saw a volatile day and the Sensex ended the day relatively flat. Tata Motors posted its first annual loss in 7 years after luxury car sales took a dive. Stocks of metal companies rose after copper prices climbed and stocks of Reliance Industries rose after a court ruling approved the merger of Reliance Petroleum with itself.
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Tuesday, 30 June, 2009
The Sensex fell on concern that liquidity will be squeezed out of the market if the budget doesn’t deliver on expectations. Jaiprakash Associates and DLF took a hit, while Bajaj Hindustan fell after the government asked sugar producers to sell 1.66 million tons of sugar next month.
Wednesday, 1 July, 2009
The index rose again on the back of automakers after data showed healthy sales growth. June sales for Hero Honda rose 24% and Maruti Suzuki rose 23%. Hindalco fell after reporting an 80% fall in full year profits because of declining demand, higher raw material costs and derviatives losses.
 Thursday, 2 July, 2009
On Thursday, the market ended up slightly again. Oil companies gained as fuel prices rose. Infrastructure stocks lost on news that the government would find it hard to fund infrastructure projects.
 Friday, 3 July, 2009
The market had a strong ending on Friday, and both the sensitive index and the Nifty gained 1% this week.
Top gainers were HDFC Bank, Tata Steel, Mahindra and Mahindra, Reliance Infrastructure, and ICICI Bank 
Top losers included Cairn India, Hindalco, Hero Honda, Sterlite Industries, and National Aluminum Company.
All sector indices made gains and ended in the green.
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First Published: Sun, Jul 05 2009. 07 48 PM IST
More Topics: Taking Stock | Sensex | Nifty | BSE | NSE |