Money on the markets
A maturing market amid the mayhem
Shares in FMCG index posted decent gains on Thursday, with stocks like Nestle India gaining 3.7 percent and ending as top gainer in the index.
Ruchi Soy gained 3.15 percent, while Godrej Consumer Products gained 1.8 percent.
However, HUL shares bucked the trend and lost more than 1 percent.
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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.
The stock market was choppy today as slipping Asian stocks and weak U.S. manufacturing data sparked profit-taking.
Asian stocks fell for a second day after weak U.S. factory data and news of record job losses in Europe raised concerns about the world economy.
The Sensex fell on Monday as an unfavourable court ruling saw a sell off in shares of Reliance Industries. Investor sentiments were also dampened by weak Asian markets.
The 30-share sensitive index swung from an intra-day high of 15,261 to an intra-day low of 14,808, and finally closed 362 points lower at 14,857. The fifty-share Nifty ended 2.1 percent lower at 4484.