22 April 2008
Markets end on a flat note
Markets opened in the red and traded in a range bound and volatile manner through the day. They finally closed on a flattish note. While the Sensex was up 44.54 points or 0.27% at 16,783.87, the Nifty was up 12.30 points or 0.24% to close at 5049.30. The broad market indices outperformed the frontline indices as the BSE Midcap and Smallcap indices gained 0.78% and 0.52% respectively. This explains the positive market breadth as A/D ratio was 1.4:1 on the BSE. NSE cash turnover was Rs.15,067.85crs. Vs. Rs. 13,226.36crs. yesterday.
Sectorally, it was a mixed bag. The BSE Realty and Metal gained 3% and 2% respectively while the BSE IT and Oil & Gas indices lost 4.32% and 0.34% respectively. Gainers from the index pivotals included Bhel, Jaiprakash Associates, HDFC, DLF and HDFC Bank. Losers were TCS, Wipro, Satyam, Infosys and Ranbaxy.
Markets are taking a breather after the sharp rally seen in the last one week. We continue with our go slow approach on fresh positions as the main indices are trading near some strong resistances from which they could react. Existing positions may however be held on to as the underlying trend continues to remain up.
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