Market on 18th Feb 2008

Markets end marginally in red

After opening in the positive, markets witnessed selling pressure and slipped into the red. The markets then traded in red for most part of the day but managed to close off the lows of the day. While the Sensex was down 67.20 points or 0.37% at 18,048.05, the Nifty lost 26.0 points or 0.49% to close at 5276.90. Broadmarket indices outperformed the frontline indices as the BSE Midcap and Smallcap indices were up 0.65% and 1.40% respectively. This explains the positive market breadth as A/D ratio was 2:1 on the BSE. NSE cash turnover was Rs.10,920.95cr Vs. Rs.14,206.78cr on Friday.

Sectorally, it was a mixed bag. While IT, Oil, Metal and Realty were the underperforming sectors, strength was seen in select Banking, Sugar and Fertiliser stocks. Gainers amongst the index pivotals were M&M, ITC, Hindalco, HUL and ICICI Bank. Losers were Satyam Comp, Tata Motors, TCS, DLF and BHEL.

With the main indices yet to confirm that they are in a fresh uptrend and also due to continued global uncertainties, we continue with our strategy of taking a small exposure with respect to fresh positions in order to get your legs into the door. Aggressive positions can be built up once the markets enter a confirmed uptrend.

Categories: BSE, Markets, News, NSE, SEBI, Sensex, Stocks