The week witnessed a strong recovery, the Sensex gained 9.34 per cent to 19243. The market reacted positively to SEBI's policy on Participatory Notes. | |
| Also, good results of some of the Sensex stocks such as L&T boosted sentiments. There was buying across sectors and companies with capital goods index gaining 20 per cent over the week. Among major gainers, L&T spurt by 28.2 per cent followed by Reliance Energy 25.3 per cent and SBI 25 per cent. |
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| What to expect this week |
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| In the coming week, RBI's mid-term review and the US Fed meet will provide direction to the market. Experts advise extreme caution while buying stocks as they are likely to be volatile and may consolidate in the coming week. |
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| The sectors, especially sensitive to interest rates and oil prices are expected to be more volatile. FMCG and consumer durables may be safer bets in this festival season. |
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| Stock to watch | ARVIND MILLS | | Last week's close (Rs) | 75.25 | | Prev. week's close (Rs) | 62.90 | | Week's high (Rs) | 78.63 | | Week's low (Rs) | 57.83 | | Last week's ave. daily turnover (Rs cr) | 95.40 | | Prev. week's ave. daily turnover (Rs cr) | 101.58 | | Number of up/down move | 5/0 |
Denims and apparel maker Arvind Mills on Friday posted good results, registering a net profit of Rs 10.5 crore for Q2FY08 as compared to Rs 4.74 crore in Q2FY07. For the same period, total income rose from Rs 493.28 crore to Rs 565.39 crore. The company has recently signed an exclusive international license agreement for US fashion wear brand Cherokee. Cherokee is one of the fastest growing brands worldwide. Besides, the company also said, it will invest Rs 400 crore in next four years to ramp up its retail operations and target one billion dollar business by the year 2012. |
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