Sensex ends FY06 with a bang, zooms 74%

The Sensex began the final week of the last quarter of fiscal year 2006 with a huge positive gap of 46 points at 10,996. The index went on to hit a new all-time intra-day high of 11,357 before settling with a huge gain of 3% (330 points) at 11,280.

The index ended the month with a huge gain of 8.8% (910 points). In the process, the index ended the final quarter of FY06 as the best performing quarter of the fiscal in terms of points gained, i.e a whopping 1,882 points. In percentage terms, it equalled the perfomance with its second quarter ended September 2005 gain of 20%. The index thus ended fiscal year 2006 with a huge gain of 73.7% (4,786 points).

Though the rally was broad-based, metal, technology and FCMG stocks out-performed the market this week. The BSE Metal Index soared 10.10% to 8748. The FMCG Index surged nearly 6% to 2192, and the Teck Index was up 4% at 2713.

INDEX MOVERS & SHAKERS

Tata Steel was the major gainer of the week - the stock surged nearly 9% to Rs 536. Bharti Tele zoomed 8%. Hindalco, Ranbaxy, ONGC, Gujarat Ambuja, HLL, Cipla, HDFC Bank, ITC and Wipro were up 5-7% each. ICICI Bank dropped nearly 2% to Rs 589. Tata Power and SBI declined 1.5% each.

ITC with a gain of over 5% accounted for 41 points gain of the Sensex. It was followed by Bharti Tele (33 points), ONGC, HLL and Infosys (31 points each). ICICI Bank was the major dragger - the stock shaved-off 16 points off the index.

OTHER GAINERS & LOSERS

Era Construction zoomed 102% (Rs 292) to Rs 589. Rajesh Exports soared 41% to Rs 323. K M Sugar, Praj Industries, Bharat Gears, Rajshree Sugar, Financial Technologies, Vintage Cards, Asian Electronics, Hindustan Copper, Southern Iron & Steel, Unitech, BF Utilities and Alembic Glass were the other major gainers this week.

Simplex Mills plunged 15% to Rs 143. Mastek, BEML, Goetze India, Radha Madhav, India Infoline, AIA Engineering, Todays Writing, KEC International, Goldiam International, Deccan Chronicle declined 8-13% this week.

FUND ACTIVITY

Foreign and local funds were agressive buyers through the week. Foreign institutional investors mopped up shares to the tune of Rs 1,518 crore (gross purchases Rs 10,172 crore; gross sales Rs 8,654 crore) till Thursday. Mutual funds bought shares worth Rs 1,141 crore (gross purchases Rs 3,288 crore; gross sales Rs 2,147 crore).