FIIs continued to pump money amid an improvement in the global risk appetite. The Nifty managed to surpass 5,400 but could not sustain above the crucial technical barrier. Further advance from here could be hard to come by as the Government struggles to build wider political consensus on pending reforms.

The monsoon session of parliament has been a major dampener so far in the wake of explosive CAG reports. Although there is no threat to the UPA government, the Congress-led regime could have to pay a heavy price in the future. The results season is out of the way. So, the focus would be on policy action from the Centre. 

While FII flows have been robust this month the same may not be sustainable in the absence of material progress on reforms. Next week’s important events will be provisional data on Q1 GDP, F&O expiry and Parliament proceedings. Also watch out for Federal Reserve’s annual symposium at Jackson Hole.

For the week, the BSE Sensex and the NSE Nifty ended at 17783 and 5389, respectively. Both the indices gained 0.45% each, rising for the fourth week in a row.

Sensex top gainers: The top gainers in the Sensex were Ranbaxy Labs (up 6.9%), Infosys (up 4%), TCS (up 3.5%), Cipla  (up 3.3%) and Wipro  (up 3.3%).

Sensex losers: The top losers in the Sensex were Bharti Airtel (down 5.5%), Reliance Infra (down 4.7%), Reliance Industries (down 4.2%), Hindalco (down 2.4%) and Reliance Capital (down 2.3%).

The BSE IT Index (up 3.3%): The top gainers in the IT sector were Infosys (up 4%), TCS (up 3.5%), Wipro (up 3.3%), Mahindra Satyam (up 2%) and Sasken Communication (up 1.3%).

Mphasis ended lower by 1.3% during the week.

The BSE Healthcare Index (up 1.1%): The top gainers in the Pharma space were Suven Life Science (up 27.9%), Orchid Chem (up 15.1%), Astrazeneca Pharma (up 14.4%), Aurobindo Pharma (up 9%) and Ranbaxy Labs (up 6.9%).

The top losers were Morepen Labs (down 3.3%), Piramal Healthcare (down 2.8%), Wockhardt (down 2.4%), Glenmark Pharma (down 1.2%) and Fresenius Kabi (down 0.8%).

The BSE Auto Index (up 0.6%): The top gainers were Tata Motors  (up 2.4%), Maruti Suzuki (up 1.1%), Bajaj Auto (up 0.9%) and Swaraj Mazda  (up 0.6%).

The top losers in the auto space were Ashok Leyland (down 2.9%), Eicher Motors (down 1.9%), Hindustan Motors (down 1.1%) and M&M (down 1%).

The BSE Oil & Gas Index (down 1.2%): The top gainers in the oil & gas space were GSPL (up 10.8%), Chennai Petroleum (up 5.2%), Hindustan Oil (up 4.6%), BPCL (up 4.1%) and Gujarat NRE Coke (up 3.6%).

The top losers were Reliance Industries (down 4.2%), MRPL (down 3.2%), Shiv-Vani Oil (down 3.1%), Essar Oil (down 2.1%) and Great Offshore (down 1.1%).

The Telecom Sector: The top gainers in the telecom space were MTNL (up 22%).

The top losers were WWIL (down 11.3%), Shyam Telecom (down 6.7%), Bharti Airtel (down 5.5%), Himachal Futuristic (down 3.9%) and Gemini Comm (down 3.5%).

The Realty Sector (down 2.6%): The top losers in the Realty sector were HDIL (down 8.5%), Ansal Props (down 4.3%), Unitech (down 3.1%), Sobha Developers (down 2.4%) and Mahindra Lifespace (down 2.3%).

Anant Raj Industries gained 3.2% during the week.

The Metals sector (up 1%):The top gainers in the metals sector were Jindal Stainless (up 5.8%), JSW Steel  (up 2.3%), Adhunik Metaliks (up 1.2%) and SAIL (up 1%).

The top losers were Lloyds Metals (down 5.3%), Sunflag Iron (down 2.2%), Tata Steel (down 1.8%), Bhushan Steel (down 1.4%) and Jindal Steel (down 1.1%).

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