Several uncertainties facing the markets saw the week open on a lacklustre note with low commitments even though foreign institutional investors (FIIs) were seen making purchases. Thursday saw the BSE Sensex move up by 30 points and by 41 points on Friday on positive news of an industrial upturn in most industries.

"The likely market drivers would be the fluid situation created by political developments, announcement of the Internet policy, the Sebi buyback guidelines, fresh signals on the economy (whether the revival is for certain or debunked)," said a BSE broker. Though the markets were hesitant at the early stages despite the buyback ordinance, a moderate rally was witnessed later on both the Bombay Stock Exchange (BSE) and theNational Stock Exchange (NSE) during the week after foreign funds turned net buyers.

ACC attracted an annualised carryforward rate of 13.02 per cent on a weighted average badla rate Rs 2.34 and a hawala rate of Rs 945. Bajaj Auto attracted an annualised badla rate of 13.22 per cent on a weighted average badla rate of Rs 1.45 and a hawala rate of Rs 570.

Dr Reddy's Labs drew an annualised rate of 13.32 per cent on a weighted average rate of Rs 1.14 and hawala rate of Rs 445. Essel Packaging attracted a massive annualised rate of 72.28 per cent on a weighted average rate of Rs 2.78 and a hawala rate of Rs 200, Hindalco Industries attracted an annualised badla rate of 11.37 per cent on a weighted average rate of Rs 1.09 and a hawala rate of Rs 500.

In the software sector, Digital Equipment attracted an annualised carryforward rate of 13.36 per cent, NIIT of 13.03 per cent and Pentafour Software of 13.22 per cent.

The BSE Sensex initially fluctuated in a narrow grove before showing good activity towardsthe end of the week to end at 2,884.37 points as against the previous week's close of 2,812.49 points, netting a gain of 71.88 points. On the NSE, S&P CNX Nifty firmed by 11.95 points to close the week at 840.80 points as against the previous week's close of 828.85. The total volume of business on the BSE and NSE was very low at Rs 3,722.33 crore and Rs 4,582.24 crore, respectively, compared with the previous week's turnover of Rs 6,172.39 crore and Rs 7,189.55 crore, respectively.