Money on the markets
A maturing market amid the mayhem
The Sensex closed 0.40 percent lower on Monday, amid mixed Asian markets and profit booking by investors.
The benchmark closed 43.59 points lower at 10,979.50, while the Nifty ended 0.22 percent down at 3,377.10.
The benchmark’s fall was led by ICICI Bank, HDFC, ITC and NTPC.
On the sectoral front, the BSE Banking Index led the decline, losing nearly 1 percent. This was followed by the BSE FMCG Index which was down 0.75 percent. However, the BSE Metals Index bucked the trend and gained 2.5 percent.
On the global front, Asian markets were choppy and the effect was also seen on the Sensex. Signs of recovery in the U.S. economy have kept sentiments buoyed, mainly due to positive results from two big U.S. firms Citigroup and GE.
The BSE Sensex today crossed the psychological mark of 10,000 and ended 446 points higher, its best close in nearly five months, guided by strong Asian and European markets.
The benchmark index ended at 10,348.83, while the 50-share Nifty ended 150.7 points higher at 3,211.05.
Reliance Industries surged more than 5 per cent on reports the company has started pumping gas from the KG basin, which at full throttle will nearly double India’s gas output.
The Sensex jumped nearly 50 points on Friday to end at 10,048.49, driven mostly by increasing optimism worldwide.
Gains however were capped by profit-booking in a market that has recovered considerable ground after Satyam unveiled the country’s biggest corporate fraud in early January.
The Sensex jumped 335 points on Thursday to cross the 10,000 mark, driven by strong global markets and short covering in monthly derivative contracts.