26 Jun 2008 | 17:47
Markets end higher after a volatile session The markets opened higher today.
Markets
end higher after a volatile session The markets opened higher today.
Short covering ahead of expiry of June 2008 derivatives contracts
helped the markets close higher for the second straight session today.
The US Federal Reserve on Wednesday, 25 June 2008, held interest rates
steady at 2% on Wednesday, as widely expected, and signalled it was in
no rush to raise them, even as it voiced greater concerns about
inflation. However, global cues were mixed and the markets remained
volatile through the day.
While the Sensex closed up 201.75
points or 1.42% at 14,421.82, the Nifty gained 63.2 points or 1.5% at
4315.85. The broad market indices ended on a mixed note as the BSE
Midcap and Smallcap index ended down -0.08% and up 1.01% respectively.
The market breath was positive, as A/D ratio was 1.3:1 on the BSE. NSE
cash turnover was Rs.15,803.95 crs. Vs. Rs.12,331.10 cr yesterday.
Barring
the Bankex, Consumer Durables and Realty indices, all the BSE Sectoral
indices ended higher. The BSE Oil & Gas, IT and Metal indices
gained more than 1% each. Some of the gainers from the BSE - 30 were
Ambuja Cement, Wipro, Reliance, Cipla and Satyam. Losers from the
Sensex pack included Rel Comm, Maruti Suzuki, Hindalco, Ranbaxy and DLF.
While
the markets have now pulled back for two consecutive sessions, the
trend continues to remain down. Traders need to be cautious with their
long positions as the markets could suddenly resume their downward
journey. Traders can look for fresh shorting opportunities to profit
once the market resumes to move lower.
Markets end higher after a volatile session The markets opened higher today.
Markets
end higher after a volatile session The markets opened higher today.
Short covering ahead of expiry of June 2008 derivatives contracts
helped the markets close higher for the second straight session today.
The US Federal Reserve on Wednesday, 25 June 2008, held interest rates
steady at 2% on Wednesday, as widely expected, and signalled it was in
no rush to raise them, even as it voiced greater concerns about
inflation. However, global cues were mixed and the markets remained
volatile through the day.
While the Sensex closed up 201.75
points or 1.42% at 14,421.82, the Nifty gained 63.2 points or 1.5% at
4315.85. The broad market indices ended on a mixed note as the BSE
Midcap and Smallcap index ended down -0.08% and up 1.01% respectively.
The market breath was positive, as A/D ratio was 1.3:1 on the BSE. NSE
cash turnover was Rs.15,803.95 crs. Vs. Rs.12,331.10 cr yesterday.
Barring
the Bankex, Consumer Durables and Realty indices, all the BSE Sectoral
indices ended higher. The BSE Oil & Gas, IT and Metal indices
gained more than 1% each. Some of the gainers from the BSE - 30 were
Ambuja Cement, Wipro, Reliance, Cipla and Satyam. Losers from the
Sensex pack included Rel Comm, Maruti Suzuki, Hindalco, Ranbaxy and DLF.
While
the markets have now pulled back for two consecutive sessions, the
trend continues to remain down. Traders need to be cautious with their
long positions as the markets could suddenly resume their downward
journey. Traders can look for fresh shorting opportunities to profit
once the market resumes to move lower.
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