Money on the markets

A maturing market amid the mayhem

Markets jump over 400 points

June 26, 2009

MARKETS-SOUTHASIA-STOCKS/The Sensex ended the week on a strong note, gaining 2.9 percent on Friday to close at 14,765 as investors bought shares after a recent fall in markets.

ICICI Bank was the star performer with its stock jumping 9 percent to 754 rupees. Other Sensex heavyweights like Reliance Industries and Infosys gained nearly 4 percent each.

Sun Pharma shares dropped over 12 percent on news that U.S. authorities had seized drugs from the firm’s local unit for manufacturing-standards violations.

All sectoral indices, except the healthcare index, ended with smart gains. The BSE Banking and Capital Goods indices led the pack with gains of over 4 percent each.

Stocks like Central Bank of India, Mindtree, Nestle and IVRCL Infra touched their 52-week high during trade.

Top traded stocks on the BSE included IFCI, Ispat Industries and Suzlon Energy.

With the market closing above the 14,500 mark, do you think the Sensex will extend its gains and touch 15,000 levels again?

Comments

A strong gain of 419 points on 26 June in sensex points to an impending rally.Sensex could touch 15,400 in the ensuing week.

A sustained rally would however depend upon a break-out of monsoon over grainary areas and more incentives for business and industry in forthcoming budget.

Posted by A.Kapoor | Report as abusive
 

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
  •