The markets have ended lower in the first week of Samvat 2066, with the Sensex losing 515.20 points or 2.97% to end at 16,810.81 and the Nifty shedding 144.75 points or 2.82% at 4,997. 05.
The bourses were open on only four days due to the Diwali break. And with the exception of Friday, the markets ended in the red. Trading during the week was marked by extreme choppiness and volatility, given the run-up seen ahead of Diwali and the absence of major global cues.
The Nifty closed below the 5,000 mark, on Thursday, for the first time in seven days and the Sensex ended below the 17,000 mark.
The wholesale price index (WPI) inflation rose 1.21% in the year through 10 October, 2009, higher than previous week's 0.92%, according to data released by the government on Thursday.
Corporate Inc has reported good numbers in the September quarter. Among the results announced during the week, ITC posted a 26% rise in PAT at Rs 1,009 crore, Dr Reddy's Q2 net zoomed 107% at Rs 106 crore, BHEL's profit rose 39% at Rs 858 crore, Glaxo Consumer's net up 13% at Rs 60 crore, L&T's Q2 profit rose 26% at Rs 580 cr and L&T's net rose 26% at Rs 580 crore.
Anita Gandhi, Arihant Capital, said, "The markets are fairly valued at current levels. The results have been in line with expectations. With no major triggers on the anvil, one would have to keep an eye on the derivatives rollovers. Reliance is a good pick at current levels. The FMCG and pharma sectors also look attractive."
