Markets ended the volatile week on a flat note. Corporate earnings season started this week with Infosys declaring good numbers. Markets also breathed a sigh of relief as RBI announced a marginal increase in rates across the board.
The Sensex opened the week at 17,584 and touched a low of 17,277 as the Goldman Sachs episode created ripples across the globe.
Global markets were weak after Secuities and Exchange Commission (SEC) filed a civil-fraud charges against Goldman Sachs.
However the next day, RBI annouced a 25 basis points hike across the board, which some felt was marginally positive. The genral expectation was a rise of 50 basis points. Taking cue from this, rate-sensitives - auto, realty and banking - jumped.
The Sensex went on to touch a high of 17,778, but pared gains again on the last day and ended finally at 17,694 - up 103 points (0.5%) from the previous week. India's most valuable company, Reliance, announced its Q4 results on Friday. Further, the banking sector buoyed the market as the Cabinet cleared capital infusion of Rs 15,000 cr in PSU banks.
The BSE bankex surged 5% to 11,073 in the week on the RBi policy and the capital infusion decision. Autos gained 2.4% to 7,770.
However, the BSE metal index dropped 3% to 17,652. IT was also weak as investors dumped Wipro even as teh company declared 2:3 divident following its results.
SBI led the gainers list and soared 10% to Rs 2046. ICICI Bank followed close behind with gains of 6% at Rs 922.
Tata Motors and Jaiprakash Associates added 7% each to Rs 785 and Rs 148, respectively. Hindustan Unilever was up 5% at Rs 226.
Mahindra & Mahindra and Larsen & Toubro jumped 3% each to Rs 503 and Rs 1571, respectively.
However, Tata Steel was weak and slumped 6.6% at Rs 695. Sun Pharma dropped 6.4% to Rs 1801.
Sterlite, TCS, Wipro and ACC dropped 3-5% each. Other losers included Bharti Airtel, Infosys and Hero Honda.
