Mumbai: The benchmark BSE Sensex reclaimed the 28,000-level, though ending the week marginally up by 26.49 points to 28,078.35, while broader Nifty gained 44.65 to finish at 8,683.15.
The week saw a dawn of new era as far as Indian stock market is concerned as the much awaited GST bill passage has been approved by the Parliament in the midst of equities vaguely following rest all other market determinants including a four months high in manufacturing (PMI)s, fastest growth in core Infrastructure, sustained FII inflows and good monsoons.
Although shares also witnessed volatility and hectic profit-booking due to caution as well as prudence following approval of GST Bill with investors digesting its overall impact including inflationary concerns.
However, optimism came in the form of Bank of England decision to cut its key rates to 0.25 per cent coupled with a larger than expected surprise stimulus package bolstered the sentiments during weekend trade leading to hectic value-buying as well as short-covering taking the index to biggest single- session gain since July 11.
The Sensex opened flat 28,083.08 and hovered between 28,284.85 and 27,627.97 before closing the week at 28,078.35, showing a slight gain of 26.49 or 0.09 per cent. The NSE 50-share Nifty also ended the week at 8,683.15 after moving between 8,711.30 and 8,518.15, showing a gain of 44.65 or 0.52 per cent.
Buying was led by Metal, Auto, PSUs, Oil&Gas, IT, Teck, Realty followed by shares of midcap companies. While, Capital goods, Consumer Durables, FMCG, Power, Banking, and shares of Small Cap witnessed profit-booking.
