Money on the markets
A maturing market amid the mayhem
The stock market was volatile today as profit taking continued for the second day after a two-day post election rally. Weak Asian markets too weighed on investor sentiments.
The Sensex moved mostly in negative territory throughout trade, turning positive briefly after touching an intra-day low of 13,704.43 points and then shifted back to the red. The benchmark closed 324.12 points down at 13,736.54, while the Nifty ended 59.40 points lower at 4,210.90.
The main contributors to the benchmark’s fall were L&T, ICICI Bank, HDFC and Reliance Industries.
On the sectoral front, the BSE Capital Goods Index dropped 5.4 percent, followed by the Banking Index which ended 2.9 percent lower. The BSE Public Sector Undertaking Index, however, ended higher at 2.7 percent.
FIIs sold net $49.10 million in shares.
Oil stocks gained on account of higher crude prices which is now hovering above $60 a barrel. The realty sector fell on account profit taking, but the outlook remains robust as the new UPA government is likely to focus on investments in infrastructure to boost economic activity.
The stock market was choppy today amid mixed cues from global markets. The benchmark opened 0.5 pct down and slipped further in the day as heavy volumes and signs of resistance saw investors booking profits instead of buying.
The Sensex touched an intra-day low of 13,976.49points and finally closed 241.37 points down at 14,060.66 The Nifty ended 48.15 points lower at 4,270.30.
The Sensex fell more than 3 percent early on Tuesday paring yesterday’s gains, but got right back into action on strong domestic buying and closed 0.1 percent up with support from positive global cues.
The benchmark swung from 13,840 in early trade to an intra-day high of 14,930 and then closed at 14,302 on profit taking. The index had gained more than 17 percent on Monday. The Nifty declined to 4,318.45, down 4.7 points.
The Sensex created history today, jumping more than 17 percent for its biggest single-day gain in almost two decades as investors cheered the ruling coalition’s election victory.
The benchmark hit the first circuit breaker a few seconds after opening. The second breaker came at 11:55 am and trade was finally halted for the day, with the Sensex closing 2110.79 points up at 14, 284.21.
The benchmark closed down 240.51 points at 11,876.43, while the Nifty ended 1.7 percent down at 3,620.70.
The BSE Sensex closed 1.37 percent higher on Thursday, tracking a rally in global markets on ebbing concerns about the health of the financial sector and the global economy.
Trade was volatile and the benchmark closed 164.19 points higher at 12,116.94, while the Nifty ended 1.62 percent higher at 3,683.90.
The BSE Sensex closed 1.4 percent lower on Wednesday as investors booked profits ahead of the fourth phase of India’s general elections on Thursday.
The benchmark closed 3.6 points down at 12,131.08, while the Nifty ended 0.2 percent higher at 3,661.90.
The BSE Sensex closed 6.4 percent higher on Monday, its biggest one-day gain in six months, boosted by encouraging manufacturing data at home and renewed investor activity across Asia.
The benchmark closed 731.5 points higher at 12,134.75, while the Nifty ended 5.1 percent higher at 3654.
The rise in the Sensex was led by Reliance Industries, Infosys and ICICI Bank.
On the sectoral front, the BSE Metal Index gained nearly 8.7 percent. This was followed by the IT Index which ended up 8.4 percent. All sectoral indices closed the day in the green.