Indian economy expanded 7.9% in the three months ended 30 September 2009, the quickest in six quarters. The market closed the last truncated week of the year with strong gains. The growth lagged behind only China among the major world economies.
Indian Stock Market was open only for three trading days. BSE 30-share Sensex rose 104.20 points or 0.60% to 17,464.81 in the week ended Thursday, 31 December 2009. S&P CNX Nifty rose 22.65 points or 0.43% to 5,201.05 in the week. BSE Mid-Cap index outperformed the Sensex, rising 1.15% to 6,717.82. The BSE Small-cap index, too, outperformed the Sensex, rising 2.92% to 8,357.62 in the week.
Foreign funds invested Rs 83,070.09 crore (till 29 December 2009) in Indian equities in 2009, after pulling out Rs 52,987.10 crore last year when the global financial crisis rattled investors and triggered a flight to the safety of bonds and gold. The inflow boosted the Sensex 81.03% in calendar 2009 as investors chased bargains after the market had slumped over half in 2008.
Banking stocks rose on expectations of a pick up in credit offtake. Auto stocks extended recent gains on the back of strong sales in the month of November 2009 and higher advance tax payment in the third quarter. Telecom stocks rose on bargain hunting.
Indian Stock Market was open only for three trading days. BSE 30-share Sensex rose 104.20 points or 0.60% to 17,464.81 in the week ended Thursday, 31 December 2009. S&P CNX Nifty rose 22.65 points or 0.43% to 5,201.05 in the week. BSE Mid-Cap index outperformed the Sensex, rising 1.15% to 6,717.82. The BSE Small-cap index, too, outperformed the Sensex, rising 2.92% to 8,357.62 in the week.
Foreign funds invested Rs 83,070.09 crore (till 29 December 2009) in Indian equities in 2009, after pulling out Rs 52,987.10 crore last year when the global financial crisis rattled investors and triggered a flight to the safety of bonds and gold. The inflow boosted the Sensex 81.03% in calendar 2009 as investors chased bargains after the market had slumped over half in 2008.
Banking stocks rose on expectations of a pick up in credit offtake. Auto stocks extended recent gains on the back of strong sales in the month of November 2009 and higher advance tax payment in the third quarter. Telecom stocks rose on bargain hunting.
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