Money on the markets

A maturing market amid the mayhem

Market ends flat

June 29, 2009

INDIA-STOCKS/The stock market got off to a quiet start this week, with the benchmark index closing just 21 points higher at 14,786 ahead of the annual budget next week.

The Sensex was up 1.3 percent at one point, but investors booked profits to take advantage of the rise.

Tata Motors, which ended down 7.7 percent, and Sterlite Industries which gained 5.6 percent, were the top loser and gainer respectively.

The BSE Info Tech Index struggled in trade and ended down over 2 percent as shares in Infosys and TCS dropped over 2 percent. The BSE consumer durables and realty indices were among the top sectoral gainers of the day.

The Bankex gained 1.2 percent with shares like Union Bank of India, Axis Bank and Yes Bank posting decent gains. ICICI Bank, however, slipped 0.75 percent.

Stocks like Central Bank of India, Yes Bank, BEML, Biocon and Dabur India continued their good run and registered their 52-week highs.

The focus now moves to the Budget next week. Do you think market participants will be nervous till then?

Comments

A small rise of 21 points in the end but sensex showed a clear intention to have one last leap to touch 15,400 points.

The future momentum will depend on expected pick up of monsoons on 4 July,and some favourable sops in budget on 6 July.

Tomorrow we close 1Q 2009 season.How has India inc.performed?Their revelations will also be a guiding factor.Traditionally Infosys takes the first strike.Is Mr Nandan Nilekani taking his last bow with some pleasant surprises(buy-back/bonus)?

Posted by A.Kapoor | Report as abusive
 

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