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Sensex rises amid choppy trade

April 9, 2009

The Sensex seesawed in early trade today but managed to close 0.57 percent higher, tracking gains in Asian and European markets.

The benchmark closed 61 points up at 10,803.86, with investors locking in gains ahead of the earnings season and national elections.MARKETS SOUTHASIA STOCKS

Reliance Industries, ICICI, L&T and Tata Steel led the benchmark. Tata Steel was also the top index gainer, closing 7.7 percent higher.

Among sectors, the BSE Realty Index led with gains of 5.4 percent, followed by the  Banking Index which was up 2.6 percent. The BSE FMCG index was among the top loser.

The 50-Share Nifty index ended 0.03 percent down at 3342.05.

Data released today showed industrial production fell 1.2 percent in February from a year earlier, while the inflation rate stood at 0.26 percent in the 12 months to March 28.

The key benchmark indices remained flat even as expectations of further measures by the Reserve Bank rose after the government released key economic data today.

Do you think a further easing of the monetary policy will help the Sensex rise and break the 11,000 mark?


Sensex at 10,803 points has risen 2,643 points (+32.38%) since 9 March.Such a steep rise in one month is indicative of cross-over from bear to bull market.Sensex in comparison to Global Dow is lately showing a wide divergence.The continuous rise seems to indicate a break-away trend.

As far as industrial numbers are concerned there is no percptible change in sentiment except some hope that numbers will not grow any worse off.A hope is kindled that India’s rural economy is still growing and would see us through difficult times,and that recession is more pronounced in urban than rural areas.

CPI remains high with cost of food articles reamaining prohibitive.

Let investors be wary of share price bubble.

Posted by A.Kapoor | Report as abusive

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