02 May 2008 | 17:29 Markets close with strong gains as Bulls continue to party at Dalal Street
Markets close with strong gains as Bulls continue to party at Dalal Street Markets opened on a strong note and held on to the morning gains by trading in a range. While the Sensex finally closed 312.81 points or 1.81% higher at 17,600.12, the Nifty gained 62.3pts or 1.21% to close at 5228.20. The broadmarket indices also ended higher although they underperformed. While the BSE MidCap gained 1.38%, the BSE Small Cap gained 0.55%. The market breadth was however marginally positive as A/D ratio was 1.08:1 on the BSE. NSE cash turnover was Rs.15,284.57crs. Vs. Rs.16,448.43cr in the previous session.
Sectorally, barring the BSE metals index, all the sectoral indices ended higher. The top gainers were the BSE Bankex, Auto, Realty and IT indices.
We trend continues to remain undoubtedly up and we continue with our strategy of holding on to existing positional longs and using any weakness to adopt a selective buying approach.
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