Bulls ignored Drought and Swine Flu

by khalid on 16/08/2009 · 1 comment

bullsdrought

BSE 30-share Sensex added 1.7% and NSE Nifty added 2.2% during the week (10th to 14th Aug 09).

Drought and Swine Flu were ignored as the market welcomed upbeat IIP data and the draft of the new Direct Tax Code, especially the scrapping of the STT. On the global front, things are much brighter than they have been for a while now. The Fed says that economic activity in the US is leveling out. As expected, the US central bank has left key rates unchanged. Among the concerns, US retail sales unexpectedly fell in July.

The top gainers in the Sensex were Ranbaxy Labs (up 13.8%), Tata Motors (up 12.7%), DLF (up 7.7%), ONGC (up 7.1%) and Hindalco (up 6.9%).

The top losers in the Sensex were Hindustan Unilever (down 4.7%), ACC (down 4.5%), Ambuja Cements (down 4.2%), Grasim Industries (down 3.2%) and NTPC (down 3%).

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