Small-cap firms shine in Sensex surge

After a heavy volatility for a week, stock markets ended above the 15,000 mark on Friday as the benchmark BSE Sensex scaled up 152 points (1.02 per cent) to 15,138 points on the back of a good show by mid- and small"�cap stocks. The surge was also aided by positive global trends.

Analysts said the market would continue to be driven by global cues in the coming week and would be volatile. However, they said the bearish sentiment was coming down, if Friday's gains are any indication.

"The market may see a fall accompanied by several small rallies on account of short-term triggers. The volatility will continue for one and a half week. The Bank of Japan may opt for a rate hike at its meeting this month and that may affect the market," said Vaibhav Singh, dealer, Institutional Business, Sumedha Fiscal Services.

After slipping below the 15-K mark for two days, the Sensex opened into green at 15,061.13 points on Friday. This marked a high of 15,235.91 points. It later remained southbound to end at 15,138.40, losing 152.70 points. The index is presently trading at a price-earnings of 20.44.

Meanwhile, engineering and construction service provider Simplex Projects has got listed at Rs 323.75 a share on the National Stock Exchange (NSE), a premium of 75 per cent over its offer price of Rs 185 a share.

The scrip ended the day at Rs 273.70 a share, a premium of nearly 48 per cent to the offer price.

Sensex gainers in Friday's rally include State Bank of India, up 2.72 per cent to Rs 1,636, NTPC (up 2.34 per cent), HDFC (up 2.24 per cent) and ACC ( up 2.06 per cent). Losers include Ranbaxy Laboratories (down 1.40 er cent to Rs 366.25), Dr Reddy's Laboratories (down 1.28 per cent), Ambuja Cement (down 0.96 per cent) and Bharti Airtel (down 0.11 per cent).

Realty, metal, oil and gas and IT stocks were the worst performers during the week, while FMCG, consumer durables and banks witnessed least erosion.

Last Friday, markets ended on a sour note, shedding 541 points in a global sell-off wave. In the mid of the week, they saw their third biggest fall of 615 points. In the last two sessions, they showed recovery, but failed to maintain their initial gains till the closing bells.

Mahindra & Mahindra (M&M), Hindalco and Tata Motors were the top losers among the Sensex stocks during the week, losing more than 10 per cent value, while Maruti Udyog, ITC, Ambuja Cement and SBI were gainers.