MARKET ENDED 07.04.2010 WEDNESDAY
SENSEX 17970.02 +028.65
NIFTY 5774.65 +08.65
RS/$ 44.45 +00.28
Benchmarks ended on a flat note Wednesday as traders booked profits near resistance levels due to lack of positive cues from global peers. Gains in auto and oil&gas space were offset by losses in banks and metals stocks.
Indices opened higher taking cues from positive Asian markets and touched psychological resistance levels. But found it difficult sustain at these levels. Meanwhile traders continued to lap-up stocks from broader markets
Bombay Stock Exchange's Sensex ended at 17970.02, up 28.65 points or 0.16 per cent. The index touched a high of 18047.86 and low of 17,878.31.
National Stock Exchange's Nifty closed at 5374.60, up 8.60 points or 0.16 per cent. The broader index hit a high of 5399.65 and low of 5345.05.
people expected the Nifty to touch 5450 levels and then witness profit booking which will pull it down to 5200. Cement and small PSU banks look good for next week. Stock specific are bullish on IVRCL Infra, GAIL and Nagarjuna Construction
BSE Midcap Index was up 0.52 per cent and BSE Smallcap Index gained 0.70 per cent.
Amongst the sectoral indices, BSE Auto Index was up 1.1 per cent, BSE Oil&Gas gained 0.76 per cent, BSE Realty Index advanced 0.7 per cent and BSE Power Index moved 0.64 per cent higher.
BSE Bankex was down 0.4 per cent, BSE Metal Index declined 0.13 per cent and BSE Capital Goods Index slipped 0.01 per cent.
Nifty gainers comprised Idea Cellular (5.1%), Power Grid (3.45%), GAIL (3.45%), Tata Motors (2.96%) and IDFC (2.84%).
Punjab National Bank (-1.98%), Hindustan Unilever (-1.94%), Sun Pharmaceuticals (-1.58%), Jindal Steel (-1.14%) and Axis Bank (-1.07%) were the losers.
Market breadth was positive on the Nifty with 1692 gainers and 1283 losers.
Sentiments in European markets turned bearish after a survey suggested that the UK ’s service sector expanded less than expected in March. The US markets are also expected to witness a subdued opening. At 4:20 pm IST Dow Jones futures was down 0.09 per cent, S&P 500 slipped 0.20 per cent and Nasdaq 100 slipped 0.13 per cent.