Truncated week sees Sensex cross 17,000 points


New Delhi : In a truncated trading week, the benchmark index of Indian equities markets crossed the 17,000-mark for the first time in 16 months.

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In a truncated trading week, due to two public holidays Monday and Friday, the 30-share sensitive index (Sensex) ended 441.55 points, or 2.65 percent higher, at 17,134.55 points at weekly close Thursday, as opposed to the previous week’s close at 16,693 points.

The Sensex rose consecutively Tuesday and Wednesday, and managed to hold on to the gains Thursday.

The broader S&P CNX Nifty of the National Stock Exchange (NSE), too, moved up 2.4 percent from its last weekly close to end at 5,083.4 points.

Broader market indices added to their weekly tally as well, with the BSE midcap index ending 1.21 percent up and the BSE smallcap index rising 1.84 percent.

The trading week started Tuesday — the markets were closed Monday on account of Dussehra — with the Sensex gaining 159.91 points or 0.96 percent to shut shop at 16,852.91 points.

The Nifty similarly ended in the green at 5,006.85 points, up 0.97 percent..

Expectations of an improved earnings season for India Inc pushed key indices up Wednesday with the Sensex moving past the 17,000-mark for the first time in 16 months.

It ended at 17,126.84 points, up 273.93 points or 1.63 percent from Tuesday’s closing figure.

The Nifty, too, closed in the positive terrain at 5,083.95 points, up 1.54 percent.

The last day of trading was volatile though movement was restricted to a narrow range.

Sensex Thursday ended at 17,134.55 points, up 7.71 points or 0.05 percent, while the Nifty closed at 5,083.4 points, down 0.01 percent.

Data with markets watchdog Securities and Exchange Board of India (SEBI) showed that foreign funds were net buyers during the week, having bought scrips worth $1.2 billion.

The top gainers in the Sensex were ICICI Bank (up 7.7 percent), Cipla (up 5.3 percent), Wipro (up 4.7 percent), TCS (up 4.5 percent) and Ambuja Cement (up 4.3 percent).

Among the top losers were Grasim (down 4.7 percent), Tata Motors (down 4 percent), Hindalco (down 1.7 percent), Tata Power (down 1.7 percent) and HDFC (down 1.6 percent).