Money on the markets
A maturing market amid the mayhem
The Sensex topped 15,000 points during trade on Wednesday for the first time in nine months, but lost steam and closed at 14,870 as investors booked profits.
The 30-share sensitive index swung from an intra-day high of 15,045 to an intra-day low of 14,734, and finally closed 4 points down. The fifty-share Nifty ended 0.12 percent higher at 4530.
On the sectoral front, the BSE Banking Index shed 1.2 percent, followed by the IT Index which ended 1percent lower, mainly due to rise in the rupee. The BSE Consumer Durable Index, however, ended higher at 4.04 percent.
FIIs bought net $44.4 million in shares and $374.7 million in debt. Aggressive buying of Indian stocks by FIIs has kept investor sentiments upbeat. Their total inflow in calendar year 2009 totalled $4554.6 million.
After a relatively quiet start in the morning, the benchmark stock index rallied and closed 475 points higher even as factory output data disappointed.
There was speculation that the BJP-led alliance, perceived as market friendly, was gaining momentum in the elections.
The BSE Sensex closed 2.9 percent higher on Thursday as investors put aside worries about the world economy and returned to the market.
After rising over 3 percent by mid-day, the Sensex pared gains and closed just 0.69 percent higher at 11,023 as investors booked profit ahead of the weekend.
Infosys Technologies, L&T and ICICI shares led the gains in the benchmark.
Unitech emerged as the star performer, surging over 20 percent. Unitech is looking to sell more stocks and assets, such as hotels and offices, to cut its high debt.
The Sensex broke a long positive run today and closed below 11,000 as investors booked profits in a market that had gained over 18 percent in the eight-session rally. The benchmark close at 10947, registering a drop of almost 3 percent
The fall was led by heavyweights like Reliance Industries, which slipped 4.8 percent, L&T, which was down 5.3 percent, and ONGC, which fell 4.8 percent.
The benchmark index ended at 9,568, having struggled throughout trade as investors booked profits. It had dropped over 5 percent just before close.