Volatile week for Indian shares


Mumbai : Indian shares witnessed a volatile week with no two days being the same for key indices even as foreign institutional investors (FIIs) were on a profit-making mode by selling during most of the week.

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Despite rebounding in early trade Monday, Indian shares took a beating in the last hour of trading with a key index closing very flat, raising 0.14 percent even as top property developer DLF Ltd saw 40 percent of its $2.4 billion IPO lapped up within an hour of its opening Monday.

The Bombay Stock Exchange (BSE) 30-share benchmark sensitive index that rose to over one percent in early trades, finally settled at 0.14 percent or 19.6 points to close at 14,083.41 levels. The broader 50-isue National Stock Exchange Nifty index was up 0.6 points or 0.01 percent to close at 4,145.60.

A strong rally Thursday on solid global markets saw the shares rise 1.43 percent with finance, cements stocks pulling up a key index in a broad-based rally.

The Sensex was up 1.43 percent or 200.69 points to close at 14,203.72 after going down below the 14,000 levels Wednesday with 20 of its components trading in the green.

Nifty too was up 1.38 percent or 56.95 points to close at 4,170 levels.

Top housing finance company HDFC led the gainers of the day, up 4.24 percent at Rs.1,825.25, followed by top cement maker ACC, up 3.36 percent at Rs.825.30 and top steel maker Tata Steel, up 3.18 percent at Rs.614.15.

But Thursday's feel-good mood was not sustained on Friday with the Sensex closing flat.

On Friday, the Sensex opened strongly as all Asian markets registered gains on the back of strong overnight close in the US bourse, but ended down 41.01 points or 0.29 percent at 14,162.71.

The Nifty, however, ended up 1.45 points to end at 4,171.45. Twenty-seven stocks out of 50 registered gains over the previous day.

State-run heavy electrical equipment maker BHEL led the major index gainers Friday, up 2.95 percent at Rs.1,389.15, followed by top carmaker Maruti Udyog, up 1.62 percent at Rs.740.50 and top engineering and construction firm Larsen & Toubro, up 1.29 percent at Rs.1, 947.75.

Those who traded in the green Friday were Tata Steel, down 2.29 percent at Rs.600.10, HDFC, down 2.23 percent at Rs.1,784.50 and thermal energy producer NTPC, down 1.89 percent at Rs.150.60.