By IANS,
Mumbai : Despite rise in inflation, the Indian equities market ended the week on a positive note and closed with a gain. The improved GDP figures for the quarter boosted the market sentiment.
Inflation numbers have increased further; for week ended May 17,the figure stood at 8.1 percent as against 7.82 percent in the previous week.
The Gross Domestic Product (GDP) for the quarter ended March 2008 stood at 8.8 percent as against 9.7 percent in the same period of last financial year.
The market started on a firm note, tracking strong Asian markets and traded steadily till the end of the trading session.
The 30-share benchmark of the Bombay Stock Exchange (BSE) sensitive index (Sensex) opened at 16,454.03 points, touched a high of 16,540.49 before and closed at 16,415.57 points. It went up by 99.31 points at the day’s close or 0.61 percent.
The National Stock Exchange (NSE) S&P Nifty, which opened at 4844.05 points, closed at 4870.10 points. It went up by 34.80 points or 0.72 percent.
The BSE Midcap index, which closed at 6,760.54 points, went up by 18.78 points or 0.28 percent.
However, BSE Smallcap index which closed at 8,133.04 points went down by 48.03 points or 0.59 percent.
The market breadth was negative. On the BSE, 1008 shares advanced, 1701 declined and 58 maintained status quo.
The top gainers of the day were HDFC at Rs.2569.15 which went up by 5.59 percent, Ranbaxy Labs at Rs.528.65 which gained 4.77 percent, and BHEL at Rs.1662.15 which surged 3.89 percent.
The top losers of the day included Jaiprakash Associate at Rs.213.20 down by 5.39 percent, Ambuja Cements at Rs.95.20 which lost 2.66 percent, and Reliance Industries at Rs.2401.65 that went down by 2.63 percent.