BSE Sensex rebounds 164 pts; logs first weekly gain in four

Feb 21 2014, 17:18 IST
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BSE Sensex rises 164 points to end at 20,700.75. BSE Sensex rises 164 points to end at 20,700.75.
SummaryBSE Sensex lost 186.33 pts in the previous trading session, recovered 164.11 points to end at 20,700.75.

closed 1% higher on Friday on supportive global cues. The mid cap index was more active with buying seen in several of its constituents. For the week, benchmark indices gained by about 1.5% but were largely within the band of the past few weeks.

The F&O expiry next week can provide some more volatility to the markets. Going ahead, we believe that, markets will remain in a band with no immediate triggers. Valuations are also at about 14x FY15 consensus earnings, which is near the long term average. Any trigger, positive or negative, will lead to a break out on either side. The outcome of the political event or any global development are the important triggers to watch out for, in the medium term. Inflation and IIP data next month will have a bearing on the RBI’s decision at the next policy meeting.

(Reuters) BSE Sensex rises for fifth session in six, ITC Ltd, ACC shares surge

BSE Sensex rose for a fifth time in six sessions on Friday as a recovery in global markets allowed blue chips such as ITC Ltd to recover from falls in the previous session, while cement makers such as ACC surged on speculation of price hikes.

The benchmark BSE Sensex index provisionally closed higher 0.75 percent at 20,690.23, while the broader NSE index ended up 1 percent at 6,152.65.

Asian shares rebounded from falls after a survey showing brisk U.S. manufacturing activity offset concerns about China's economic growth.

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