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Sensex rises in choppy trade

July 7, 2009

The BSE Sensex ended 0.9 percent up on Tuesday, recovering from yesterday’s biggest one-day drop in six months.

The benchmark turned negative during trade after rising more than 1 percent, as a large budget deficit weighed on investors’ minds. Trade was volatile and the 30-share sensitive index swung from an intra-day low of 14,000 to an intra-day high of 14,252 and closed 127 points higher at 14,170.
INDIA-STOCKS/6PCT

The fifty-share Nifty ended 0.87 percent up at 4,202.

The rise in the benchmark was led by ITC, L&T, ICICI Bank and Bharti Airtel.

On the sectoral front, the BSE Auto Index gained 3.92 percent, followed by the FMCG Index which ended 3.83 percent higher. However, the BSE Oil & Gas Index closed 1.32 percent lower.

On the global front, Asian and European markets ended lower as investors remained nervous ahead of upcoming second-quarter results.

Do you think the Sensex will recover and touch 15000 levels again?

Comments

Sensex had soared 2,111 points(+17.34%)in a single trading session on 18 May after a clear win of UPA alliance on an expectation that the new government will push through economic reforms and foreign investment.FIIs started to bring in funds in anticipation.

Sadly there is nothing in this budget for FIIs to hold on to.

Yesterday a spokesman for the government was taking pains in saying that they would not like the budget to be judged by sensex.Today DIIs were making all out efforts to show that D-street has given a thumbs up.

Sensex will probably return to the levels around day of reckoning(16 May).It could be revisiting 12,750- 13,000 levels.

Posted by A.Kapoor | Report as abusive
 

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