Market post 5th straight weekly gains, marginally up 15 points

Mumbai: Equities settled almost flat for the week with benchmark Sensex marginally up by 15.53 points at 32,325.41 and the broader Nifty managed to close above 10K mark at 10,066 level, up by 51.90 points.

The week saw the market initial record closing gains got frustrated after RBI cut the repo rate by 25 bps in its monetary policy review, which market players already priced- in, while keeping the policy stance neutral on the basis of headline inflation led to investors ambiguity.

Rate sensitive stocks languished on selling pressure during tepid trading week, added to the pressure was plunge in key private survey datas of July manufacturing and Services PMIs fall due to GST launch.

However, good earning results in some of bluechips, policy reforms underpinned by confidence in economy attracted domestic fund buying and shortcovering cushioning the market fall.

After opening the week at 32,412.20 points, the index registered record high at 32,686.48 and low of 32,107.99 before closing the week at 32,325.41, showing a marginal gain of 15.53 points or 0.05 per cent. The Sensex had gained 1,403.80 points or 4.54 per cent in five weeks.

The Nifty started the week at 10,034.70 and touched new peak at 10,137.85 and low of 9,988.35. The index ended at at 10,066.40, showing a gain of 51.90 or 0.52 per cent from last weekend's level.

Buying was led by Consumer Durabled, Oil and Gas, PSUs, Metals, Auto, Power, Teck, Realty, Bankex and IT sectors, while, HealthCare, FMCG and IPOs inccurred losses. The secondline shares of midcap and smallcap ended mixed.