Weekly Wrap: Market behaves good for Santa; gains 1.5%
It looked like the market was trying to behave a little better this week, preparing for the arrival of Santa Claus over the weekend.
December 25, 2011 / 11:22 IST
Moneycontrol Bureau
It looked like the market was trying to behave a little better this week, preparing for the arrival of Santa Claus over the weekend. There was quite a lot of volatility, but we managed to end in the green, gaining close to 1.5%. There was no shortage in newsflow, both global and domestic, but Indian equities held their ground to give investors some relief before the festivities began.Regardless of the fall on the last day of trade, the Nifty managed to stay above the 4700 mark, closing 62 points at 4714. This is despite the Nifty making a fresh 52-week low of 4531 during the week. The Sensex closed more than 240 points higher at 15738.70. The broader market also cheered along this time, but realty, capital goods and metal continued to underperform.Market Movers:Delivering a setback to the telecom sector, the Department of Telecom (DoT) on Friday declared 3G intra-circle roaming licences illegal, affecting services of Bharti Airtel, Vodafone and Idea Cellular. The operators are both shocked and angry at the DoT
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