The market is expected to remain volatile ahead of the derivative contracts expiry for the August 2007 series on Thursday, 30 August 2007
Market nudged higher for the week ended Friday, 24 August 2007, tracking recovery in Asian markets on speculation that the US Federal Reserve will cut benchmark rates sooner rather than later. Also the Bank of Japan (BOJ) decision to keep interest rates unchanged at 0.50% boosted the market further
The market ended its four week losing streak to post gains for the week ended Friday, 24 August 2007. The 30-share BSE Sensex rose 283.35 points or 2% to settle at 14,424.87. The S&P CNX Nifty rose 82.10 points or 1.99% to settle at 4,190.15 in the week.
But the domestic bourses underperformed its Asian peers due to fluid political situation in New Delhi, with prospects of mid-term polls looming large. World stock markets had fallen sharply in recent weeks as problems in the risky US subprime mortgage sector spread to other markets.
Also FIIs, who were the key drivers of the recent rally have resorted to selling. As per the latest data they sold shares worth Rs 8,895.80 crore in the month of August, till 23 August 2007. FII inflow in the month of July 2007, totaled Rs 23,872.40 crore.
Inflation has been under control. India's wholesale price index rose 4.10% in the 12 months to 11 August 2007, slightly up from the previous week's 4.05%, due to higher food and manufactured product prices, government data showed on Friday, 24 August 2007.
Market nudged higher for the week ended Friday, 24 August 2007, tracking recovery in Asian markets on speculation that the US Federal Reserve will cut benchmark rates sooner rather than later. Also the Bank of Japan (BOJ) decision to keep interest rates unchanged at 0.50% boosted the market further
The market ended its four week losing streak to post gains for the week ended Friday, 24 August 2007. The 30-share BSE Sensex rose 283.35 points or 2% to settle at 14,424.87. The S&P CNX Nifty rose 82.10 points or 1.99% to settle at 4,190.15 in the week.
But the domestic bourses underperformed its Asian peers due to fluid political situation in New Delhi, with prospects of mid-term polls looming large. World stock markets had fallen sharply in recent weeks as problems in the risky US subprime mortgage sector spread to other markets.
Also FIIs, who were the key drivers of the recent rally have resorted to selling. As per the latest data they sold shares worth Rs 8,895.80 crore in the month of August, till 23 August 2007. FII inflow in the month of July 2007, totaled Rs 23,872.40 crore.
Inflation has been under control. India's wholesale price index rose 4.10% in the 12 months to 11 August 2007, slightly up from the previous week's 4.05%, due to higher food and manufactured product prices, government data showed on Friday, 24 August 2007.
