Financial Daily from THE HINDU group of publications
Saturday, May 27, 2006


News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Home Page - Mutual Funds
Markets - Stock Markets


Sensex up 143 on MF support

Our Bureau

Mumbai , May 26

Stock markets ended the tumultuous week on a positive note recovering most losses on buying support from mutual funds and domestic institutions.

On Friday, the benchmark BSE-30 Sensex extended earlier gains and closed at 10,809.35, an increase of 143.03 points or 1.34 per cent from Thursday.

Compared to the freefall of 1,111 points mid-way through Monday's session, the Sensex closed the week relatively unscathed, lower by just 129.26 points from last Friday.

NSE's S&P CNX Nifty Index closed at 3,209.60, up 31.9 points or one per cent.

Dealers said shares of steel companies including Tata Steel (up 4.87 per cent or Rs 25 at Rs 538.25), SAIL (6.85 per cent or Rs 5.30 to Rs 82.70) and Essar Steel (about four per cent or Rs 1.55 to Rs 41.25) gained on consolidation expectations in the steel industry after Arcelor said it had agreed to buy Russia's Severstal to form the world's biggest steel company.

Software major Infosys Technologies was another gainer as it added 3.22 per cent or Rs 91.45 on value buying by investors to end at Rs 2,927.40, dealers said. Wipro Ltd gained Rs 31.85 or over seven per cent to Rs 486.25.

Dealers said FIIs, which have been pulling out funds from emerging markets, are key to the market's direction next week.

Related Stories:
Sensex recovers as margins ease
We are waiting for the right opportunities: Quantum MF
Identifying cos in special situations requires rigorous bottom-up research

More Stories on : Mutual Funds | Stock Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Southwest monsoon sets in ahead of schedule


BSNL concern over unbundling of copper network
Costlier vegetables, food items push up inflation
Sensex up 143 on MF support
Left to examine Govt's divestment programme
Four-fold rise in IOC Q4 net profit
ITC net up 36% in Q4, to pay Rs 2.65
S&P looking at equity research on Indian companies
IPO scam: SEBI bars Karvy group entities
VSNL long distance calling cards illegal, rules TDSAT
FLAG Tele wins arbitration case against VSNL
`Top 3 Indian services cos way ahead of global peers'



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line