08 Aug 2008 | 17:00
Markets
recover from the lows of the day to end marginally in the positive The
Markets opened on a flat note on Friday morning and soon slipped into
the red.
Markets
recover from the lows of the day to end marginally in the positive The
Markets opened on a flat note on Friday morning and soon slipped into
the red. The markets traded weak for most part of the day. However,
they recovered from the lows of the day and ended on a flat note.
Inflation, represented by the wholesale price index (WPI), rose to
12.01% for the week ended 26 July 2008, slightly above the previous
week’s 11.98% rise. The reading was the highest in the last 13 years.
Science and Technology Minister Kapil Sibal today, 8 August 2008, said
the June-September monsoon rains have revived across the country and
are expected to be normal.
While the Sensex closed up 50.57
points or 0.33% at 15,167.82, the Nifty gained 5.65 points or 0.12% at
4529.50. The broad market indices also gained marginally as the BSE
Midcap and Smallcap index gained 0.09% and 0.21% respectively. The
market breath was flat, as A/D ratio was about
0.9:1 on the BSE.
Sectorally,
it was a mixed bag. The BSE Metal, Bankex, Capital Goods and PSU gained
more than 1% each. The BSE Realty and IT indices lost more than 1%
each. Gainers from the BSE-30 were Sterlite, ONGC, ICICI Bank and
L&T.
The losers from the Sensex pack included Grasim, Wipro, Infosys and Jaiprakash Associates.
The
markets seem to be in consolidation mode as they have now been trading
in a narrow range for the last three sessions. The technical trend
nevertheless remains up and we continue with our strategy of holding on
to existing positions with trailing stops to protect profits already
earned.
Fresh positions need to be entered into on a selective basis, preferably on declines.Visit site at – http://investorline.co.in/
Newsroom - http://newsroom.investorline.co.in/
Learning Center- http://learning.investorline.co.in/
Mutual funds - http://mutualfunds.investorline.co.in/
Life Insurance - http://insurance.investorline.co.in/
Investor Journal - http://research.investorline.co.in/
Investor Forums- http://forums.investorline.co.in/
Markets
recover from the lows of the day to end marginally in the positive The
Markets opened on a flat note on Friday morning and soon slipped into
the red.
Markets
recover from the lows of the day to end marginally in the positive The
Markets opened on a flat note on Friday morning and soon slipped into
the red. The markets traded weak for most part of the day. However,
they recovered from the lows of the day and ended on a flat note.
Inflation, represented by the wholesale price index (WPI), rose to
12.01% for the week ended 26 July 2008, slightly above the previous
week’s 11.98% rise. The reading was the highest in the last 13 years.
Science and Technology Minister Kapil Sibal today, 8 August 2008, said
the June-September monsoon rains have revived across the country and
are expected to be normal.
While the Sensex closed up 50.57
points or 0.33% at 15,167.82, the Nifty gained 5.65 points or 0.12% at
4529.50. The broad market indices also gained marginally as the BSE
Midcap and Smallcap index gained 0.09% and 0.21% respectively. The
market breath was flat, as A/D ratio was about
0.9:1 on the BSE.
Sectorally,
it was a mixed bag. The BSE Metal, Bankex, Capital Goods and PSU gained
more than 1% each. The BSE Realty and IT indices lost more than 1%
each. Gainers from the BSE-30 were Sterlite, ONGC, ICICI Bank and
L&T.
The losers from the Sensex pack included Grasim, Wipro, Infosys and Jaiprakash Associates.
The
markets seem to be in consolidation mode as they have now been trading
in a narrow range for the last three sessions. The technical trend
nevertheless remains up and we continue with our strategy of holding on
to existing positions with trailing stops to protect profits already
earned.
Fresh positions need to be entered into on a selective basis, preferably on declines.Visit site at – http://investorline.co.in/
Newsroom - http://newsroom.investorline.co.in/
Learning Center- http://learning.investorline.co.in/
Mutual funds - http://mutualfunds.investorline.co.in/
Life Insurance - http://insurance.investorline.co.in/
Investor Journal - http://research.investorline.co.in/
Investor Forums- http://forums.investorline.co.in/
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