Bazar this Week ( 24 to 28 Aug )

by khalid on 29/08/2009 · 0 comments



Last Week ( 24 to 28 Aug 09 ) :

Nifty on August 28, 2009 hit its highest level in nearly 15 months. On a week-on-week basis the Indian markets came back in the positive territory again after strong recovery during the previous week. Revival of the monsoon rains, higher European stocks and gains in the US index futures boosted the domestic bourses during Friday’s trade. On a week-on-week basis, the BSE Sensex gained 648 points or 4.26% to close at 15,889.73. The Nifty ended at 4732.35, up by 203 points or 4.49%. The market traded in a range before the August series expiry and finally gave a break out on the last day of the week. Inflation data remained positive for the market as it came at -0.92% in the year through August 15, 2009. Foreign funds have been the key drivers of the recent rally. Their inflow in August 2009 totalled Rs. 2,467.20 crore (till August 26, 2009). FII inflow in calendar year 2009 totalled Rs. 37,836.80 crore.

Week Ahead ( 31 Aug to 4 Sep 09 ) :

The equity markets globally, have been witnessing good positive momentum in the last couple of weeks. This can be attributed to a positive data. The market may consolidate after a 4.47% rise in the week ended Friday, August 28, 2009. The market will keep a close watch on the Central Statistical Organisation’s data on India’s GDP due on Monday, August 31, 2009. Besides this, movements in the global markets, foreign funds activity and progress of India’s monsoon may continue to influence sentiment on the domestic bourses. Meanwhile, the debut of the state-run hydropower firm NHPC would be closely watched as it would set the tone for other companies looking to raise capital from the primary market.

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