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Renewed FII buying brings cheer back to the bourses; Sensex 3211.33, Nifty 931.40

A cheerful atmosphere was witnessed on the country's premier bourse Bombay Stock Exchange following renewed buying support by foreign institutional investors and continuous purchasing by domestic punters during the week ended on July 31.

The investors said that the week started on a depressed note on fresh turmoil in the south-east Asian market due to depreciation of the Japanese yen, the region's strongest currency, and triggered renewed selling pressure on the Indian capital market.

The index-based scrip Hindutan Lever Limited has announced excellent first half results, an increase in net profit to Rs 3.28 billion, which improved sentiments of investors including FIIs, helping the Sensex to spurt by over 80 points.

The BSE Sensitive Index finished at 3211.31 points showing a net gain of 40.01 points as against the previous week's close of 3171.30 points.

The broad-based BSE National Index closed at 1416.67 points gaining 19.82 points over the previous week's close of 1396.85 points.

The BSE-200 and Dollex indices increased by 04.74 and 01.87 points to 324.54 and 126.96 points as compared to previous week's close of 319.80 and 125.19 points respectively. The total turnover during the week on the BSE was Rs 50.24 billion.

On Wednesday, the equity prices particularly the software scrips flared up on hectic buying support from FIIs and domestic institutions coupled with short-covering by the bear opeators. Satyam Computers registered highest turnover of Rs 1.97 billion out of Rs 11.12 billion. Despite poor first quarter performance, Telco during the first quarter of the fiscal year, FIIs bought about 600,000 shares during the week, leading brokers said.

Tata Steel touched its eight-year low price on limited purchasing by the investors. The ongoing crisis in the Asian markets, rising inflation and concerns over the political scenario were the major factors behind the depressed mood of FIIs, brokers said.

The authorities of National Stock Exchange have changed index pattern from NSE-50 to S&P CNX Nifty and Dollar NSE-50 to S&P CNX Defty during the mid-week.

The pivotal prices at NSE also rose modestly on buying support from FIIs and FIs coupled with bear operators, lifting the indices upwards at the weekend.

The S&P CNX Nifty rose by 11.3 points to 931.40 points as against the previous week's NSE-50 close of 920.10 points. The S&P Defty closed at 758.70 points showing a net gain of 11 points over the last week's Dollar NSE-50 close of 749.70 points.

The CNX Nifty Junior settled down at 1450.45 points, shot up by 45.85 points as compared to previous week's Midcap index close of 1404.60 points.

The total turnover on the NSE was 6679.95 points.

UNI