07 Apr 2008 | 17:27
Markets end on a strong note as they recover all of Friday's losses After an initial blip in the morning, markets steadily moved up on the back of
Markets end on a strong note as they recover all of Friday's losses After an initial blip in the morning, markets steadily moved up on the back of strong Asian and European cues. While the Sensex was up 413.96 points or 2.70% at 15,757.08, the Nifty gained 114.20 points or 2.46% to close at 4761.20. Broadmarket indices too closed higher as the BSE Midcap and Smallcap indices gained 1.31% and 0.82% respectively. The market breadth was positive as A/D ratio was 1.5:1 on the BSE. NSE cash turnover was Rs. 12,026.36crs Vs. Rs.12,115.77 crs yesterday.
All the Sectoral indices ended higher. The BSE Bankex and FMCG indices were the top gainers as they surged 4.14% and 4% respectively. Gainers from the index pivotals included ICICI Bank, Ranbaxy Labs, Jaiprakash Associates and HUL. Losers included Ambuja Cement, Maruti Suzuki and Rel Energy.
With the markets closing on a strong note and recovering all the losses seen on Friday, the bulls seem to have made a comeback. We recommend a selective buying approach as there could be further upsides in the coming sessions.
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