17 Apr 2008
Markets end the week on a healthy note
The markets opened on a positive note on the back of strong global cues and traded in a range thereafter to finally end on a healthy note. The Sensex ended 237.01 points or 1.46% higher at 16,481.20 while the Nifty gained 71.1 points or 1.45% to close at 4958.40. The broadmarket indices outperformed the frontline indices as the BSE Midcap and Smallcap indices gained 2.05% and 2.16% respectively. The market breadth was positive as A/D ratio was close to 3:1 on the BSE. NSE cash turnover was Rs.15,139.22crs. Vs. Rs.14,844.80crs. yesterday.
Barring the Oil & Gas and FMCG indices all the BSE Sectoral indices ended with healthy gains. The BSE Realty, Metal, IT and Bankex surged in excess of 3%. Gainers from the index pivotals included HDFC Bank, Hindalco, HDFC, DLF, Infosys and Tata Steel. Losers included HUL, ACC, L&T, Rel Energy and Reliance.
The short-term trend continues to remain up and we continue with our view that the Nifty is likely to rally to the 5000-5100 levels. We recommend a selective buying approach.
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