Nifty, Sensex end the week on a bullish note

The week was characterised by erratic movement in the stock market at the start, and a strong finish, with improved sentiment

Last week, we had suggested that this week (25th to 29th November) would result in a weak rally. The Sensex and Nifty did indeed rally this week, but ended on a strong note. The sentiment has improved over the previous week, though there is a persistently poor macro data that is preventing the market from hitting new highs. India’s GDP grew at 4.8% against polled forecast of 4.6%. Inflation concerns still abound though. The BSE 30-share Sensex rose 574.54 points (or 3%) to close the week at 20,791.93, while the Nifty closed at 6,176.10, up 180.65 points (or 3%).


Initially, on Monday, the markets shot up, without any semblance of fight from the bears mainly because of very positive international news that Iran and US has reached a nuclear deal to restrict Tehran’s nuclear ambitions. This helped ease geopolitical concerns over the Middle-East, and opened up avenues of importing natural gas and other resources from Iran, with fewer restrictions. Both oil and gold fell on the news. The bulls took hold.


The markets reversed on Tuesday. Even though Nasdaq hit 4,000 for the first time since 2000, and other US indices hit another record high, the market never crossed Monday’s high. The bears wrestled back control from the bulls.


Wednesday’s trading session was characterised by dull trading. In the end, there were no eventual winners, with the markets finishing flat, despite positive economic data from the US.


Thursday being the day of derivatives expiry volatility was expected to be high. The markets remained strong, well above key support levels. The optimism was driven by Japan’s Nikkei hitting a six-year high, as well as positive numbers from the Euro region. The markets finished up. There was a possibility of the gains extending well into Friday.


Indeed, Friday saw major gains. There was hardly any fight from the bears, as the bulls took over and kept the market steady and strong throughout the trading session. There is the possibility of a further rise on Monday. We expect the market to give up some gains either late Monday or on Tuesday.


Among the 1,279 shares that traded on the NSE this week, 780 rose, 458 fell and 41 remained unchanged.


Among the other indices on the NSE, the top two indices were PSU Banks (5%) and CNX Midcap 50 (4%) while the top two losers were Pharmaceuticals (0.80%) and CNX IT (0.40%).


Among the Nifty stocks the top five gainers were Jaiprakash Associates (16%); BHEL (14%); L&T (8%); ONGC (8%) and Axis Bank (7%), while the top five losers were Bharti Airtel (-3%); NTPC (-2%); Wipro (-1%); Cairn (-1%) and Asian Paints (-1%).


Top ML sectors


Worst ML sectors


Industrial Intermediates


Foods & Beverages


Construction, EPC & Infra




Oil & Gas


Telecom Services






Non-Ferrous Metals


Software & IT Services




Inflation Index Bonds launched by RBI

RBI in consultation with Government of India, has decided to launch Inflation Indexed National Savings Securities-Cumulative (IINSS-C) for retail investors in the second half of December 2013

Inflation Indexed National Savings Securities-Cumulative (IINSS-C) securities  are being launched by the Reserve Bank of India (RBI), in the backdrop of announcement made in the Union Budget 2013-14 to introduce instruments, which will protect savings from inflation. The distribution/sale of IINSS-C would be through banks. Interest rate on these securities would be linked to final combined Consumer Price Index [CPI (Base:
2010=100)]. Interest rate would comprise two parts - fixed rate (1.5%) and inflation rate based on CPI, and the same will be compounded in the principal on half-yearly basis and paid at the time of maturity.

Early redemptions will be allowed after one year from the date of issue for senior citizens (i.e. above 65 years of age) and 3 years for all others, subject to penalty charges at the rate of 50% of the last coupon payable for early redemption. Early redemptions, however, will be made only on coupon dates.

The date of issuance for subscription would be announced shortly. The issuance of non-cumulative Inflation Indexed National Saving Securities for retail investors will be examined in due course.

Here are the salient features of Inflation Indexed National Savings Securities-Cumulative (IINSS-C) securities:

  • Face value of one security - Rs5,000 and minimum investment - Rs5,000


  • Maximum investment - Rs5,00,000 per applicant per annum


  • Rate of interest (per annum) –real interest rate (fixed rate) + inflation rate


  • Real interest rate – 1.5% per annum and the same will act as floor


  • Compounding - Half-yearly


Tenor - 10 years


Tarun Tejpal gets interim bail till 10am Saturday

The Sessions Court in Goa granted the Tehelka editor interim relief against arrest till 10am on Saturday

A Sessions Court in Goa on Friday granted interim bail against arrest till 10am Saturday to Tarun Tejpal, the editor of Tehelka, who is accused of sexually assaulting a woman colleague in the state.


When the Court resumes tomorrow, the public prosecutor would commence his arguement against the anticipatory bail for Tejpal.


Earlier, Goa police took the Tehalka editor into custody as soon as he landed at Dabolim Airport in Panaji from New Delhi.


Tejpal had stepped down as Tehelka Editor-in-Chief for six months in the wake of the sexual assault case against him.


We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)