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BSE Sensex and NSE Nifty closed the week with gains of 2.6 per cent each. With food inflation index slipping 3.3 per cent, hopes are rising that lower interest rates and growth are around the corner. The broader BSE 500 index gained 2.8 per cent. The stocks of MMTC and Hindustan Copper were the top gainers of the week adding 67 and 57 per cent over the course of the week. The gains have been attributed to SEBI's clearance to auction stakes to investors and their limited free-float.
Other beneficiaries of the SEBI ruling to allow direct stake sales were the stocks of State Trading Corp and Dredging Corp which gained 53 and 33 per cent respectively.
The stock of Network 18 gained 35 per cent on striking a rather convoluted deal with Reliance Industries for cash to acquire the latter's stake in various ETV channels. Group company TV18 Broadcast also gained 19 per cent through the week.
The stocks of Rashtriya Chemicals and National Fertilizers gained 42 and 50 per cent respectively on news that the government is working on a policy to help urea makers and boost investments in the segment.
The stock of RPG Group firm KEC International gained 17 per cent through the week after it bagged a Rs 1,212 crore order.
The stock of JSW Steel gained 12 per cent by the end of the week. The gains can be attributed to the government decision to hike iron ore export duties. This may result in more assured and cost-effective supplies for the beleaguered company which has suffered in recent times due to the ban on iron ore mining in Karnataka.
The stock of Fortis Healthcare gained 12.5 per cent during the week, following an announcement that a group of investors, including ECL Finance and companies of the Edelweiss group, had taken a 6.18 per cent stake in it.
Another beneficiary of Mukesh Ambani's investment plans was Anil's Reliance Communications that gained 12 per cent on expectations of a 4G tie-up with Reliance Industries.
The stocks of TVS Motors, Bajaj Auto and Hero Motocorp were among the biggest losers of the week, shedding between 8 per cent and 10 per cent. A poor set of December sales figures were a drag on the scrips. The three companies clocked in more sedate growth figures which have analysts predicting that things may get tougher in 2012.
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