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The week turned out to be a damp squib for the markets, with the Sensex and Nifty ending marginally up by about one per cent each. Marginal relief on the food inflation front saw the broader BSE 500 index ending higher by just under one per cent. The top-performing index for the week was the BSE Small Cap index, which was up around 5 per cent, while its senior counterpart the BSE Midcap index was up 2.7 per cent.
Among the best performing sector indices was the BSE Capital Goods index which gained close to 3 per cent. Large constituents, including BHEL, Siemens and Larsen and Toubro gained 4 per cent 3 per cent and 2 per cent respectively.
The shipping space saw a massive gainer from the Essar group, with the stock of Essar Shipping Ports and Logistics climbing 17 per cent through the week on news of a possible spin-off of the shipping arm. Stocks of other operators such as GE Shipping and Pipavav Shipyard gained 5 per cent and 3 per cent respectively.
The BSE Realty index was another major gainer, up 2.8 per cent through the week. Despite index heavyweight DLF shedding 4.6 per cent, constituents such as Unitech, IndiaBulls Real Estate, HDIL compensated, gaining 11 per cent, 6 per cent and 3 per cent respectively.
The BSE Power Index had an index-beating run, gaining 1.3 per cent by the close of the week. Despite index heavyweight, NTPC , shedding 3 per cent on sub-par results, lower-weighted constituents such as Suzlon, Lanco Infra, JSW Energy and GVK Power Infra chipped in with gains of 13 per cent, 10 per cent, 8 per cent and 8 per cent respectively.
The BSE Metals index put up a modest show, up 0.7 per cent. Major gainers included Bhushan Steel, Hindustan Zinc and JSW Steel , up by 7 per cent, 6 per cent and 3 per cent respectively. The stock of Sesa Goa gained 5 per cent on hopes of profit growth led by volumes as the ban on export of iron ore from Karnataka was lifted by the Supreme Court. Sector losers included Ispat Industries, Hindalco and NMDC which were down 4 per cent, 2 per cent and 1 per cent respectively.
The BSE Oil and Gas index shed one per cent, though companies in the same segment outside of the index such as Essar Oil and Mangalore Refinery gained 10 per cent each. Reliance Industries, ONGC and Cairn India shed 1 per cent, 1.5 per cent and 2 per cent respectively. Markets continue to await a decision on Vedanta's acquisition of Cairn India, with the government putting the onus on a GoM to look into issues concerning the takeover.
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