The sell-off in the worldwide financial services stocks with disastrous impact on the market, following the crises at Lehman Brothers and Merrill Lynch shook the Indian bourses too during the week resulting in the benchmark Sensex to fall down. 
 
Lots of stocks hit their lows because of the sharp fall. Around 250 companies hit their 52-week lows on the National Stock Exchange (NSE).

The domestic benchmark indices surged over 5% on Friday (Sep 19) as foreign institutional investors (FIIS) turned net buyers after a week of huge selling pressure, tracking reaction in the worldwide markets that saw a complete turnaround from the previous day.

Brokers said that the majority of buying was seen in the index stocks.

The BSE Sensex, which opened positively at 13,763.83, up 448.23 points, on encouraging global cues, remained strong all through the day.

The 30-share index, BSE Sensex ended the week on a cheerful note on Friday (Sep 19). It crossed the 14,000 mark on the back of sustained buying interest witnessed across the board. 

Realty, IT, power and banking stocks led the rally. Midcap and smallcap stocks also rose all through the day. 

The bulls showed their intent during the second half after the finance minister P Chidambaram stated that Indian banking institutions were greatly insulated from the outcomes of global turmoil and that there was no cause for any alarm.

The wholesale price index (inflation) that climbed up to 12.14 percent, as compared to 12.10 percent during the last week, failed to depress the market reaction.

The 30-share index BSE Sensex, which opened with a gain of 448.23 points, at 13,763.83 today, has moved further up north on account of heavy buying action witnessed across realty, IT, banking, oil & gas and power stocks. 

Midcap and Smallcap index gained more than 2% each. 

Among the sectoral indices, Realty was the major gainer, which climbed 7.45% followed by IT (6%), Bankex (5.14%), Oil & Gas (3.73%) and Power (3.41%).  

At 12.54 p.m., Sensex gained 608.14 points at 13,923.74. It also hit a high of 13,960.58 and a low of 13,674.96. 

Stock market analysts have maintained ‘buy’ rating on Reliance Capital stock with an intraday target of Rs 1145. 

According to them, interested traders can purchase the stock above Rs 1126 with a strict stop loss of Rs 1095. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 1178. 
 
Shares of the company, on Thursday (Sep 18), closed at Rs 1123.70 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 4219379. Current EPS & P/E ratio stood at 42.74 and 27.65 respectively. The share price has seen a 52-week high of Rs 2925 and a low of Rs 822.50 on BSE. 

Stock market analysts have maintained ‘buy’ rating on ICICI Bank stock with an intraday target of Rs 588. 

According to them, interested traders can purchase the stock above Rs 576 with a strict stop loss of Rs 557. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 602. 
 
Shares of the company, on Thursday (Sep 18), closed at Rs 575.85 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 4581171. Current EPS & P/E ratio stood at 36.93 and 16.06 respectively. The share price has seen a 52-week high of Rs 1465 and a low of Rs 515.10 on BSE.