Domestic Markets close last week with gains - ZENMoney

Domestic Markets closed the week with gains following firm global cues, sustained FII inflows and stability in rupee against dollar. For the week, Sensex and Nifty closed with gains of 2.03% and 1.97% to end at 21120 and 6277 respectively.

Domestic indices opened the holiday truncated F&O expiry week on a cautious note with weak global cues including growth concerns over Chinese economy. However, markets gained as the National Council of Applied Economic Research (NCAER) survey report that the Business Confidence Index (BCI) rose by about 21.8% to 122.3 points in July-September quarter, 2013-14, on the back of higher exports, enhanced farm produce, moderation in inflation and the new RBI's governor's focus on stabilising the currency, boosted the business confidence.

Further, continuing FII inflows, stability in rupee against dollar and supportive global cues including Federal Reserve Chairperson expressing confidence in the strength of theUSeconomy, drop in Euro Zone inflation etc, supported the upside of the market. Markets ended the week with gains awaiting April-January fiscal deficit figures and Oct-Dec quarter GDP data scheduled to be released post market on Friday.

On Sectoral front, Capital Goods sector continued to be the top gainer of the week followed by Health Care, Auto, Consumer Durables and IT. On the flip side, Metal sector continued to be under pressure followed by Power sector.

During the week, FIIs continued to be net buyers and they net bought equities worth Rs 1953.40 Cr, while Mutual Funds remained net sellers, they net sold equities worth Rs 85 Cr. As on Friday, the advance to decline ratio stood at 1:1 indicating caution in the market.

Source : Equity Bulls

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