Markets bounce back after yesterday’s sharp fall Markets ended with decent gains after yesterday’s sharp sell off.

22 Aug 2008 | 18:35



Markets bounce back after yesterday’s sharp fall Markets ended with decent gains after yesterday’s sharp sell off.



Markets
bounce back after yesterday’s sharp fall Markets ended with decent
gains after yesterday’s sharp sell off. Buying was seen in Metal, FMCG,
Banking, Oil, Auto and Power stocks. Positive cues from European
markets too helped markets to remain in positive territory.

While
the Sensex gained 157.76 points or 1.11% higher at 14,401.49, the Nifty
jumped 43.6pts or 1.02% to close at 4327.45. The broad market indices
ended on a mixed note. While the BSE Midcap gained 0.34%, the BSE
Smallcap index lost 0.16%. This explains the negative market breadth as
A/D ratio was 0.86:1 on the BSE. Turnover on the NSE for Thursday was
Rs.9382crs.
versus Rs.8581 cr on Thursday.

All the sectoral
indices ended higher. The top gainers were the BSE Metals, Bankex,
Consumer Durables and FMCG indices. The top gainers from the Sensex
were Sterlite, Hindalco, HUL, HDFC and BHEL. The losers from the Sensex
pack included Satyam, Grasim, NTPC and Wipro.

Though the markets
have bounced back today, the underlying short term trend continues to
remain weak as evidenced by the poor market breadth. We continue with
our strategy of adopting a go slow approach on fresh long positions.Visit site at – http://investorline.co.in/
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