" Major Sensex gainers on Thursday were: The major Sensex gainers were: Gail India, up 3.79 percent at Rs.426; Sesa Sterlite, up 2.80 percent at Rs.288.30; Tata Motors, up 2.53 percent at Rs.484.60; Tata Power, up 2.37 percent at Rs.90.70; and ONGC, up 2.03 percent at Rs.409.95."
Mumbai, Aug 16 - Healthy buying by foreign investors on the back of expected further reforms led to the Indian equities market making gains in the week ended Aug 14.

Markets rose by more than 0.5 percent on Thursday and by more than three percent for the week on the back of expectations of further reforms from the government and reduced concerns on the geo-political situation across the world, said Dipen Shah, head, private client group research, Kotak Securities.

The benchmark index gained 0.75 percent in the week ended Aug 14 from its previous weekly close on Aug 9. The index closed at 25,519.24 points, while it ended trade at 25,329.14 points on Aug 9.

The Indian markets, which remained closed for trading Friday on account of Independence Day, saw healthy buying from foreign institutional investors Thursday.

The FIIs had turned net buyers Thursday to the tune of $206.79 million, or Rs.1,266.54 crore.

Domestic institutional investors (DIIs), including banks, development finance institutions (DFIs), insurance and mutual funds, bought net stocks worth Rs.135.75 crore on Thursday.

Over the medium-to-long term, we expect incremental reform initiatives from the Government to drive markets. Geo-political issues on the global front and progress of monsoons can be the near-term triggers, Shah added.

Meanwhile, expectations of a rate cut by the central bank in the next monetary policy review received a setback as the country's retail inflation rose to a two-month high, amid slower growth in factory output.

However, another market analyst said that given the reform buzz and positive sentiment shown by the FIIs in investing in India might result in a long-term gain secnario for the markets.

The most important thing is that the reforms buzz be implemented on the ground. We are comfortable with the markets move in the long term. There might be certain volatility in the short-term but the over all macro-economic indications show a positive outcome in the long term with India reaching a high growth rate in the next six months-one years time, Devendra Nevgi, chief executive research firm Zyfin Advisors, told IANS.

Data released by the statistics and programme implementation showed the annual inflation based on consumer price index (CPI) rising to 7.96 percent in July from 7.46 percent in the month before, even as the index for industrial production (IIP) showed a lower growth of 3.4 percent in June, against 5 percent in May.

Week-wise, the S&P BSE sensitive index closed Monday trade 190.10 points or 0.75 percent up at 25,519.24 points.

The markets had closed 361.53 points or 1.42 percent higher in Tuesday's trade even as information technology (IT) and technology, entertainment and media (TECK) stocks fell.

This was the biggest daily gain since June 6, as almost all the sectors ended in the green. The market closed at 25,880.77 points.

The markets closed flat on Wednesday - only 38 points or 0.15 percent up - even as capital goods, consumer durables and bank stocks fell.

It closed at 25,918.95 points.

The benchmark index ended Thursday's trade 184.28 points or 0.71 percent up on anticipation of reforms expected to be announced by Prime Minister Narendra Modi in his Independence Day address to the nation.

Nearly all the sectors traded in green, except information technology (IT) and technology, entertainment and media (TECK).

Major Sensex gainers on Thursday were: The major Sensex gainers were: Gail India, up 3.79 percent at Rs.426; Sesa Sterlite, up 2.80 percent at Rs.288.30; Tata Motors, up 2.53 percent at Rs.484.60; Tata Power, up 2.37 percent at Rs.90.70; and ONGC, up 2.03 percent at Rs.409.95.

The losers were: Hero MotoCorp, down 2.69 percent at Rs.2,510.95; HDFC, down 1.44 percent at Rs.1,124.50, Hindalco Inds, down 0.83 percent at Rs.178.50, Bharti Airtel, down 0.75 percent at Rs.365.55; and Hindustan Unilever, down 0.61 percent at Rs.714.05.


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