Buoyed by sustained inflows from FIIs and strong rally in Reliance group stocks, the sensex ended at 2-1/2 month high at 6753 despite erratic trade on the BSE in the week under review.RIL, the flagship company of the reliance group, hogged the limelight and led a sharp rally on bourses yesterday on intense speculation about an imminent settlement between the two warring Ambani brothers.Foreign institutional investors (FIIs), which were net sellers during earlier couple of weeks, reported over Rs 824 crore in the first four sessions from May 30 to June 2.In the week to June 4, the BSE benchmark 30-share index fluctuated irregularly in a range of 6772.09 and 6642.61 before ending the week at 6753.00 as against last weekend's closer of 6707.72, a net 45.28 points or 0.68%.Domestic mutual funds played a negative role during the week after their massive net purchases of over Rs 3300 crore during may. Local funds reported net sales of Rs 302.65 crore in the the same period last week.The market witnessed a sharp rally on rumours about the settlement in RIL lifting the bse barometer by 93 points on Friday. RIL stocks gained by Rs 24.05 or 4.53% over last weekend close. Reliance Capital spurted by Rs 22.20 or 11.75% and Rel Energy by Rs 48.80 or 9.81%.Other heavyweight HLL also spurted sharply by Rs 12.55 or 9.09%.During the week, the activity was more pronounced in the mid-cap and small-cap stocks. The BSE mid-cap index and the BSE small-cap index soared by 57.85 points and 132.06 points to close the week at 3298.56 and 4382.20 from preceding weekend's close of 3261.21 and 4296.91 respectively.The broad-based BSE-100 index firmed up by another 33.91 points to end the week at 3628.08 as against last weekend's close of 3594.17.Metal stocks, however, came under heavy selling pressure. The BSE metal index dipped by 172.74 points to 5425.65 from last weekend's close of 5598.39.On the NSE, both the S&P CNX Nifty and the S&P CNX Defty advanced further by 15.95 points and 9.30 points to finish the week at 2092.35 and 1662.10 as against previous weekend's close of 2076.40 and 1652.80 respectively. The CNX Nifty Junior shot up by 118.15 points to conclude the week at 4432.15 from 4314.00 at the last weekend.During the week (six trading sessions), the volume of business on the BSE and the NSE was relatively low at Rs 10,542 crore and Rs 22,116 crore compared to last week's turnover of Rs 10,560 crore and Rs 22,058 crore respectively.
