The Indian bourses opened the week with a smart rally. Better than expected corporate earnings, at home and abroad, pushed the Sensex up 446 points. On Monday the benchmark index closed at 15,191, breaching the 15000-mark for the first time in a month. The Nifty surged 127 points to end at 4,502.
Monday's rally was led by IT majors such as TCS, Wipro and Infosys.
Foreign institutional investors raised their stake in majority of the 30 Sensex companies during the April-June quarter, according to the shareholding pattern of the companies put on the BSE.
Among the 27 companies that have disclosed their shareholding pattern, 22 companies showed a rise in the FII shareholding.
Sharp rises in FIIs holdings were seen in DLF, Larsen & Toubro, Reliance Infrastructure, HDFC, Reliance Communication and Sterlite Industries.
Adani Power, the project development arm of Adani Group, plans to tap the capital market through a public issue on July 28. The price band for the issue will be announced two days prior to the opening date.
Profit-taking after a strong rally in the earlier sessions pulled the indices lower on Tuesday. The Sensex eased 128 point at 15,062 and the Nifty lost 33 points to end at 4,469.
On Wednesday, heavy selling by foreign institutions and some domestic mutual funds dragged the stocks.
The Sensex closed down 219 points, at 14,843 and the Nifty fell 70 points, to end at 4,398 in a volatile session.
Investors booked profits in technology Stocks. Tech majors, Infosys, TCS and Wipro were the major losers despite showing better earnings.
On Thursday the markets began on an upbeat mood, thanks to a smart rally in Asian markets, better- than expected results from some Sensex companies across sectors lifted the spirit further.
The Sensex spurted further by 388 points to 15,231.04 - the highest since June 12. The Nifty surged by 125 points to 4,523. Overseas investors remained net buyers apart from value buying by domestic investors.
UTI Asset Management Company plans to start an infrastructure- focused private equity fund called `India Infrastructure Development Fund (IIDF)', the company said on Thursday.
The fund, which will have a corpus of Rs 2,400 crore, is being created in association with Germany-based HSH Nordbank and Kuwait-based Noor Financial Investment Company.
The Indian markets continued their rally on Friday and finished on a positive note. Strong global sentiments and impressive earnings by Sensex companies boosted the run-up. The Sensex finally closed higher at 15,379, up 147 points and the Nifty gained 45 points to end at 4,568.