Markets recover from the lows of the day
The markets opened marginally in the positive, but soon gave up their gains and slipped into negative
Markets recover from the lows of the day The markets opened marginally in the positive, but soon gave up their gains and slipped into negative territory. Post noon, the markets recovered sharply to finally end on a flat note. While the Sensex was down 17.82 points or 0.11% at 15,626.62, the Nifty was up 5.05 points or 0.11% to close at 4739.55. Broad market indices too were flat. While the BSE Midcap ended 0.51% lower, the BSE Small Cap index closed 0.26% higher. The market breadth was positive, as A/D ratio was 1.9:1 on the BSE. NSE cash turnover was Rs.11,000.38crs. Vs. Rs.14,487.46 crs. yesterday.
Sectorally, baring the BSE Oil & Gas, FMCG and Consumer Durables indices, all the BSE Sectoral indices ended in the red. The BSE Oil & Gas index gained 3.36%. The BSE Capital Goods was the worst hit as it lost 3.21%. Gainers from the index pivotals included HUL, Reliance, Rel Energy and TCS. Losers included BHEL, M&M, L&T, Wipro and Tata Steel.
Markets are likely to remain in a range in the coming weeks as they build a base after the recent sharp correction. The quarterly results that are to be announced in the next few weeks are likely to provide the trigger for any big moves. We recommend a selective buying approach.
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