Markets end on a flat note after a volatile session. The markets traded in a volatile fashion during the day. At one
Markets end on a flat note after a volatile session The markets traded in a volatile fashion during the day. At one point the Sensex was up more than 300 points but then it witnessed selling pressure and ended on a flat note. While the Sensex ended 23.97 points or 0.16% higher at 14833.46, the Nifty was up 29.9 points or 0.66% to close at 4533.0. The broadmarket indices underperformed the benchmark indices as the BSE Midcap and Smallcap indices lost 1.48% and 2.09% respectively. The market breadth was negative as A/D ratio was 1:2.5 on the BSE. NSE cash turnover was Rs.15,170.87crs vs Rs.12,925.87crs. yesterday.
Sectorally, it was a mixed bag. The BSE Capital Goods and Realty indices posted decent gains, in excess of 1%. The BSE Metal Index closed down more than 2%. Gainers from the BSE-30 included DLF, HUL, Ranbaxy Labs and TCS. The top losers were Jaiprakash Associates, Tata Steel, SBI and Hindalco.
While the trend continues to remain undoubtedly down, with the Nifty trading near the Jan 08 lows of 4448.5, there could be a possibility of a pullback rally emerging. We nevertheless continue with our strategy of going slow on positional long term investments till we see signs of a confirmed sustainable uptrend. Short term trading positions can be built to take advantage of any short term swings.
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