Markets on 19th Feb 2008
Markets end on a flat note for the second consecutive session The markets opened in the positive and traded at higher levels until noon.
Thereafter, they witnessed selling pressure and marginally dipped in the red. They finally closed on a flat note. While the Sensex was up 27 points or 0.15% at 18,075.66, the Nifty gained 3.9 points or 0.07% to close at 5280.80. Broad market indices outperformed the frontline indices as the BSE Midcap and Smallcap indices were up 0.57% and 0.41% respectively. Market breadth was positive, as A/D ratio was 1.2:1 on the BSE.
Sectorally, it was a mixed bag. While the top gainers were the BSE Consumer Durables, Auto and Healthcare indices, the top losers were BSE Realty and Power. Gainers from the index pivotals include Bajaj Auto, Ranbaxy Labs, ACC and TCS. Losers were Rel Energy, Hindalco, DLF and ITC.
With the main indices continuing to trade in a narrow range for the second consecutive session, markets seem to lack direction for the moment. We recommend a go slow approach on fresh long positions.
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