As some wide-ranging reforms initiated by the market regulator Sebi and the government are yet to translate into true business gains for the investors and fund houses, the industry is hopeful of even better days ahead in 2013.

The BSE benchmark Sensex failed to hold on to mid-week gains and ended the week lower by 75 points at 19,242.00 due to tail-end selling from operators triggered by worries over the US budget issue.

The BSE Sensex closed over 120 points higher with rate sensitive banking and realty stocks attracting good buying on optimism of the RBI easing monetary policy in January.

Sensex resumed better and shot up further to a 20-month high of 19,612.18, but declined afterwards to a low of 19,193.11 before ending the week at 19,317.25, posting a loss of 106.85 points. Nifty also declined by 27.80 points to finish the week at 5,879.60.

At 2.28 pm, Sensex was down 38.33 points at 19448.47. Similarly, Nifty was down 23.40 points at 5907.50 during the same time.

Sensex resumed higher at 18,574.36 and moved in a wide range of 19,372.70 and 18,508.79 before concluding the week at 19,339.90, posting a gain of 833.33 points, or 4.50 per cent. Nifty of the NSE zoomed by 253.25 points to end at over 19-month high of 5,879.85.

Cipla Medpro is a distributor of the Indian firm's products in South Africa and certain neighbouring markets.

Brokers said the market entered a correction mode as investors booked profits after the recent upsurge and a weakening trend in Asia.

In listless trading, the BSE benchmark Sensex on Monday rose just seven points amid investors adopting a cautious stance after recent gains and a weak rupee.

The 30-share Sensex, which had lost 205 per cent in the previous session, bounced back by 74.53 points, or 0.40 per cent, to close at 18,505.38.

BHEL was the worst performer on Monday among 30-share Sensex losing over 6 per cent due to disappointing earnings and order book growth.

Rakesh Jhunjhunwala who is perhaps the most tracked Indian equity investor says he is most bullish on retail, pharma and banking stocks.

Elara Capital MD Harendra Kumar, while betting on stocks like Dabur, Ultratech and Infosys, says a rate cut is expected from the Reserve Bank of India in its next monetary policy review on December 18.

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After a mild round of profit-booking and mixed trading in European stocks, the 30-share BSE Sensex closed at 18,793.36, up 84.38 points or 0.45 per cent.

Falling for the second straight day, the Sensex on Monday day fell by over 229 points to end at 18,708.98, its lowest in 10 days, on selling in RIL, SBI and L&T amid weakness in European stocks ahead of a key meeting to discuss the region's debt crisis.

The Sensex closed 119.69 points down, or 0.63 per cent, at 18,938.46. The Nifty closed at 5,746.95, down 40.65 points, or 0.70 per cent.

Companies with large business interests in Europe may continue to face pressure. Should the situation improve if leaders of the Eurozone reach an agreement on bailing out the stressed countries, the investors may gain.

BSE Sensex rose for the third consecutive week, surging 289 points to close at a fresh 14-month high of 18,752.83, on persistent buying on slew of economic reforms announced by the government.

The 30-scrip BSE Sensex, which gained almost 437 points in the previous three sessions, closed at 17,766.78 points - up 17.13 points, or 0.10 per cent.