makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 22.07.2011 FRIDAY

WERE TODAY'S GAINERS

MARKET ENDED 22.07.2010 FRIDAY

SENSEX 18722.30 +286.11

NIFTY 5633.95 +92.35

NASDAQ 2839.81 +05.38

UPDATEDTIME 09.28 PM 22 JULY 2011

Indian shares rose for the fourth week in five, gaining 1.6 percent on Friday, joining the global rally after European leaders agreed on a second round of aid to Greece, and investors awaited the central bank's policy review next week for more cues.

Financials rebounded and led the charge, with the banking sector index rising more than 2 percent after falling more than 2 percent over the last two sessions.

The 30-share BSE index firmed 1.55 percent, or 286.11 points, to 18,722.30 points, taking gains for the week to 0.9 percent. Twenty-seven of its components closed in the green.

World stocks advanced after European leaders agreed to ease lending terms to Greece, Ireland and Portugal, while private investors would voluntarily swap their Greek bonds for longer maturities at lower interest rates to help Athens.

all eyes were set on the Indian central bank's policy review next week, and any indication that the interest rate cycle has peaked would be a major positive for the market.

"We have to look for signs if the interest rate cycle will turn. We need to watch if we are at the end of tightening cycle.

Asia's third-largest economy is nearing the end of its credit tightening cycle, as 10 interest rate increases since March 2010 exact a toll on growth in a once-roaring economy, making Tuesday's expected rate rise potentially the last for the near future.

Foreign funds have been net sellers on two days this week, trimming their inflows to $2.7 billion over the past one month.

"Valuation compulsions may drive FIIs (foreign institutional investors) towards our market in the second half. But, macro headwinds need to clear off.

Leading lenders State Bank of India , ICICI Bank and HDFC Bank ended up between 1.1 percent and 2.6 percent.

Top iron ore exporter Sesa Goa closed 2.4 percent higher. It fell more than 4 percent in early trade after reporting on Thursday a 35 percent drop in quarterly profit due to suspension of exports from its mines in the southern state of Karnataka.

Outsourcing firms advanced on expectations the near-term outlook was better than that perceived earlier, dealers said.

Top software exporter Tata Consultancy Services rose nearly 1 percent, while Infosys and Wipro advanced 2.2 percent and 1.2 percent, respectively. No. 2 software services provider Infosys last week warned it could face slow client spending, while Tata Consultancy flagged concerns about economic uncertainty. Wipro, India's No.3 software services exporter, on Wednesday forecast growth below market expectations.

Leading mobile operator Bharti Airtel rose 4.1 percent, taking gains for the year to 14.6 percent, as investors ranked it the most preferred stock in the sector, traders said.

The stock has significantly outperformed the broader index which is down 8.2 percent year-to-date. The 50-share NSE index firmed 1.7 percent to 5,633.95 points.

More than one share advanced for every share that lost ground on NSE. The volume of exchange was 604 million shares, higher than the 90-day daily average volume of 576 million shares.

MSCI world equity index was up 0.6 percent at 1015 GMT.

Jct elec, global vectra , shree ganesh were sensex loser
s
STOCKS THAT MOVED

Rallis India rallied 10.3 percent to 160.10 rupees after the agrochemicals maker reported late on Thursday a 59 percent jump in June-quarter net profit.

Capital goods maker Thermax gained 3 percent to 600.70 rupees as it posted a forecast-beating rise in April-June net profit.