Domestic market managed to extend its’ initial gains to end in a positive zone. Strong buying over the ground was contributed by positive Asian markets along with higher US index futures. Strong US economic data also added to the positive sentiments. However, stocks were little volatile ahead of the expiry of the August F&O series on Thursday, 27 August 2009. In addition, negative European markets constrained the upward journey of benchmark indices and domestic bourses came off the day’s high during mid session. In the meantime, profit booking was also witnessed following recent rally. The BSE Sensex ended above 15,750 level and NSE Nifty closed above 4,650 mark.
Market extended its previous session’s winning streak and opened the day on positive note tracking firm global cues. The US stocks markets closed higher on Monday, though it came off intraday highs. Market got a boost from an encouraging report on home prices and an unexpected jump in consumer confidence. The gain during the trading contributed stocks to register a new closing high for 2009. Further, Indian stocks exhibited little instability ahead of the F&O expiry due later this week. During mid session, benchmark indices came off the days’ high tracking weak European markets. The market further gained momentum and continued to remain healthy positioned in positive terrain till end on sustained buying support in key stocks. From the sectoral front, IT, Teck, Realty, Pharma, Power and Oil & Gas stocks witnessed most of the buying from these baskets. BSE Midcap and Smallcap stocks also followed the same trend. However, FMCG and Consumer Durable stocks remained out of favour during the trading. On the global markets front, the Asian markets that opened before the Indian market, recovered yesterday’s losses and ended higher. Upbeat data from the US added to the hopes of soon recover. Shanghai Composite, Hang Seng, Nikkei 225, Singapore''s Straits Times Index and Seoul Composite closed lower by 51.79, 21.08, 142.35, 9.67 and 12.74 points at 2,967.59, 20,456.32, 10,639.71, 2,628.43 and 1,614.12 respectively. European markets, which opened after the Indian market, are trading in red. In Frankfurt the DAX index is trading lower by 22.06 points at 5,535.03 and in London FTSE 100 is trading down by 13.03 points at 4,903.77. The improvement of German business conditions index failed to motivate investors amid concerns that markets could have reached overbought levels after several months of constant rally. German Ifo Business climate index has improved higher than expectations in August, to post 90.5 level from 87.3 in July, beating experts expectations of a reading around 89.0. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
