This optimism got reflected in individual stock prices. Speculative fervour was not lacking as operators tried to take prices to a good high in individual scrips. But profit-booking emerged at higher levels and scrips moved down from intra-day highs. This was a rather uniform phenomenon in most of the scrips.

Nevertheless, prices closed appreciably higher than the opening. In other words, the undercurrent was still bullishly buoyant. Infosys was the star performer of the day. NIIT looked somewhat subdued. But talking for the market as a whole, HLL could now well join the upward movement. ITC continues to be weak.Ranbaxy is hesitant though firm. Grasim is looking robust and could move up further. Castrol is looking positive.

The buoyancy at the BSES counter has been aborted. Glaxo has its stochastic signal improved and indicates that it could now move up, after slow and perhaps hesitant and painful consolidation. ICICI is looking robust. Baja Auto continues to look weak. For the Sensex, all technical indicators continue to signal a buy. More importantly, they have much room upside to move, before they indicate overbought position.

This week around, we have seen a not-so common phenomenon. Stock prices have been moving up slowly, gaining inch by inch, so to say. This is healthy.

Overall, it has not been a kind of frenzied buying but slow and measured entry. That being the case, the end of account on Friday may not pull down values too seriously.