Market sentiment is largely unchanged, people are still not confident about which way the market will go. Such uncertainty will prevail, at least in the short-term, said Jagannadham Thunuguntla, head of the capital markets arm and director of India’s fourth largest share brokerage firm, the Delhi-based SMC Group.

1. Dull week on Indian equities markets
Saturday, February 07, 2009
Mumbai, Feb 7 (IANS) It was a lacklustre week for the Indian equities markets, with a key index
Friday ending trade a marginal 1.31 percent below its previous weekly close. The 30-scrip
sensitive index (Sensex) of the Bombay Stock Exchange (BSE) ended at 9,300.86 points, a 1.31
percent or 123.38 points decrease from last Friday’s close of 9,424.24 points.
Similarly, the broader S&P CNX Nifty of the National Stock Exchange (NSE) shut shop at
2,843.1 - a 1.1 percent fall from last week’s close. Broader market indices like the BSE midcap
index lost 58.67 points, 1.99 percent lower than its previous weekly close while the BSE
smallcap index was down 59.81 points or 1.79 percent.
Market sentiment is largely unchanged, people are still not confident about which way the
market will go. Such uncertainty will prevail, at least in the short-term, said Jagannadham
Thunuguntla, head of the capital markets arm and director of India’s fourth largest share
brokerage firm, the Delhi-based SMC Group.
Markets started the week on a dismal note with the Sensex losing almost half of previous week’s
gains and closing 3.79 percent lower Monday at 9,066.7 points than its last close.
Following the Sensex, Nifty also shut shop at 2,766.65 points, 3.76 percent down from its
previous close of 2,874.8 points. Tuesday saw Indian equities trying in vain to make a comeback
with the Sensex managing to gain only a modest 0.91 percent or 82.6 points to close at 9,149.3
points. At closing, the Nifty was at 2,783.9 points, 0.62 percent up from its Monday close of
2,766.65 points. In a replication of Tuesday’s trade, markets inched marginally up Wednesday
after slipping from the day’s highs with the Sensex ending trade at 9,201.85 points, 0.57 percent
or 52.55 points higher.
Nifty closed at 2,803.05 points 0.69 percent up Wednesday, a 19.15 points increase from
Tuesday’s closing figure. Thursday again saw key indices taking a dip. Sensex closed at 9,090.88
points, down 1.21 percent or 110.97 points, while the Nifty pulled down its shutters at 2,780.05
points, 0.82 percent lower than its previous close.
Friday’s trading provided some respite to investors with markets being in an up trend for most
parts of the day. The Sensex closed at 9,300.86 points, 2.31 percent or 209.98 points up from its
last close while the Nifty climbed 2.27 percent to 2,843.1 points.

2. Week’s top gainers on the Sensex were Grasim (up 18.04 percent at Rs.1, 413.35), ONGC (up
3.47 percent at Rs.681.05) and Ranbaxy (up 3.76 percent at Rs.223.80). The top losers in the
Sensex were DLF (down 22.04 percent at Rs.138.15), Hindalco (down 10.09 percent at
Rs.44.10), Tata Motors (down 8.05 percent at Rs.137.60) and HDFC (down 8.07 percent Rs.1,
412.70).
Foreign institutional investors (FIIs) remained net sellers this week as well, selling shares worth
$40.4 million as compared to net sales of $70.3 million the week earlier