Money on the markets

A maturing market amid the mayhem

Markets gain 1 pct in volatile trade

July 1, 2009

INDIA-STOCKS/20KThe benchmark managed to close 1 percent up in volatile trade as investors awaited cues from the approaching budget.

Reliance Industries, Bharti Airtel and SBI led the rise, whereas DLF, M&M and Reliance Infra ended as the top index gainers.

The realty index jumped over 4 percent with Indiabulls Real Estate gaining 7.2 percent and DLF adding 4.7 percent. The banking index gained 1.3 percent and the auto index ended 1.2 percent higher.

NIIT (up 14.6 percent) and Educomp Solutions (up 12 percent) were among some of the mid-cap counters that rallied.

On the economic front, India’s manufacturing activity expanded for a third straight month in June, but at a slightly slower pace. Data released showed exports fell an annual 29.2 percent and imports dropped 39.2 percent in May.

With investors cautious ahead of the budget announcements, do you think we can cross the 15,000 mark before the week ends?

Comments

Sensex at 14,645 means it has some 755 points more to go before Friday’s closing bell.Tomorrow and Friday may have a bull charge.Investors should be cautious as the operators may start to unload during last hour’s trading on Friday.

It is a healthy sign that operators are creating an elevation by moving sensex,it clearly allows a raised peg for markets to fall from in case budget is not a reform-oriented.

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/
  •