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.
The BSE Sensex seesawed today, mainly on account of profit-booking after the benchmark closed at an almost nine-month high yesterday.
The 30-share sensitive index of the Bombay Stock Exchange swung from an intra-day high of 14,994 to an intra-day low of 14,608, and finally closed 34 points up at 14,874. The fifty-share Nifty ended 0.10 percent down at 4525.
The main contributors to the benchmark’s rise were HDFC, Tata Steel, ICICI Bank and SBI.
The BSE Sensex closed 2.9 percent higher on Thursday as investors put aside worries about the world economy and returned to the market.
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.
The BSE Sensex fell in early trade but pared losses to close 0.3 percent down on Wednesday as the much-awaited U.S. stimulus package failed to shore up investor sentiment globally.
Investors were disappointed with the $838 billion stimulus bill passed by the U.S. Senate on Tuesday and their reaction clearly showed greater concern about financial security.
The BSE Sensex ended on a strong note on Monday, extending gains to more than 3 percent on hopes of fresh economic stimulus measures and another round of rate cuts by the Reserve Bank of India (RBI).
Gains were led by heavyweights like Reliance Industries, which was up 3.3 percent; ICICI Bank, which rose 5.1 percent, and State Bank of India which added 2.6 percent.