28 Apr 2008 | 17:22 Markets jittery ahead of RBI policy meet
The markets opened in the positive but soon gave up most of their gains to end in the red.
Markets jittery ahead of RBI policy meet The markets opened in the positive but soon gave up most of their gains to end in the red. While the Sensex was down 110.02 points or 0.64% at 17,015.96, the Nifty lost 22.05 points or 0.43% to close at 5089.65. The broadmarket indices ended on a mixed note. While, the BSE Midcap index gained 0.16%, the BSE Smallcap index shed 0.21%. Market breadth was negative, as A/D ratio was 0.9:1 on the BSE. NSE cash turnover was Rs. 12,802.17cr vs Rs. 14,157.78cr on Friday.
Sectorally, it was a mixed bag. The BSE Consumer Durables gained 1.87% today. The BSE Oil & Gas and Capital Goods lost 1.08% and 1.2% respectively. Gainers from the index pivotals included Rel Energy, Jaiprakash Associates, Rel Comm, HDFC Bank and HDFC. Losers were Cipla, Tata Steel, ICICI Bank, ACC and Maruti Suzuki.
The markets seem to have taken a breather after last Friday's sharp upmove. The trend nevertheless remains undoubtedly up and we recommend holding on to existing positional longs and adopting a selective buying approach. Markets may consolidate for a while after the sharp run up seen in the last three weeks.
0 comments:
Post a Comment