The stock market rallied by over three per cent with the BSE Sensex gaining 3.1 per cent to close at 3602.02 and S&P CNX Nifty moving up by 3.2 per cent to close at 1159.95 during the week ended February 15.
Though the Sensex and Nifty rose to an eight-month high, the combined volume on the BSE and the NSE declined by over 17 per cent. Gainers outnumbered the losers in the ratio of 1.5:1. In other words, the market price of 1025 stocks improved during the week, while 684 stocks were loser.
PSU stocks consolidated earlier gains with MTNL, BHEL and IPCL moving up by over 15 per cent with large volumes. MTNL gained 15.1 per cent to close the week at Rs 173.85. The volume of shares rose 56.8 per cent at 208.14 lakh shares. BHEL appreciated by 16.3 per cent at Rs 193.15 with volume rising by 28.3 per cent at 132.84 lakh shares.
The software stocks lacked support from operators with sharp decline in volume of shares. Satyam Computer reported a 30 per cent decline in volume though the stock gained over three per cent. The volume in Infosys Technologies declined by 28.3 per cent. The other major stocks which reported decline in volume were Digital Global Software (down 23.5 per cent), Zee Telefilms (down 44.8 per cent), Reliance Industries (down 34.7 per cent) and Wipro (down 18.9 per cent).
Mastek, which appreciated by 16.3 per cent to close at Rs 309.30, reported a sharp jump in volume of turnover. Mastek
