Benchmark indices were moving in narrow ranged Friday as investors stood on sidelines ahead of a long weekend. However, buying activity
was seen in midcaps and smallcap stocks.
“Bulls are indeed on seventh heaven as the September series came to a happy close with a 7% gain in the major indices. Foreign funds continue to pour money into Indian equities while the local funds don’t appear to be all that excited. The market is likely to remain sideways with mostly a positive bias and its direction will hinge on FII inflows and external environment. Results and RBI’s monetary policy are the two big events to watch out for next month.
We have two back-to-back extended weekends. This has the potential to make the market choppy but also gives you a chance to relax,” said India Infoline report.
At 12 pm, Bombay Stock Exchange’s Sensex was at 16749.53, down 31.90 points or 0.19 per cent. The index touched an intra-day low of 16618.43 and high of 16787.67.
National Stock Exchange’s Nifty was at 4978.60, down 7.95 points or 0.16 per cent. The broader index touched a low of 4931.25 and high of 4989.50.
“Yesterday's recovery suggests us that the bull strength is still intact however; the recovery above 5020 level is needed to continue the same. On the lower side the level of 4925 may act as a major support for the market and failure to hold the same may invite further sell off in the market. Below 4925 level the index may reach 4870/4880 level. Traders can search for fresh trading long opportunity around these levels,” said Kotak Securities report.
BSE Midcap Index was up 1.21 per cent and BSE Smallcap Index moved 1.53 per cent higher.
Amongst the sectoral indices, BSE Healthcare Index gained 2.68 per cent, BSE Oil&gas Index and BSE Realty Index was up 0.99 per cent each.
BSE IT Index was down 1.29 per cent and BSE Metal Index tripped 0.84 per cent.
TCS (-2.15%), Infosys Technologies (-1.49%), Bharti Airtel (-1.43%), ICICI Bank (-1.30%) and Sterlite Industries (-1.27%) were amongst the Sensex losers.
Gainers included Sun Pharmaceuticals (1.61%), Reliance Industries (1.26%), Maruti Suzuki (1.03%), ONGC (0.70%) and NTPC (0.59%).
Market breadth was positive on the BSE with 1765 advances and 766 declines.
News Source : Sensex lacklustre; Pharma, Oil & Gas up
was seen in midcaps and smallcap stocks.
“Bulls are indeed on seventh heaven as the September series came to a happy close with a 7% gain in the major indices. Foreign funds continue to pour money into Indian equities while the local funds don’t appear to be all that excited. The market is likely to remain sideways with mostly a positive bias and its direction will hinge on FII inflows and external environment. Results and RBI’s monetary policy are the two big events to watch out for next month.
We have two back-to-back extended weekends. This has the potential to make the market choppy but also gives you a chance to relax,” said India Infoline report.
At 12 pm, Bombay Stock Exchange’s Sensex was at 16749.53, down 31.90 points or 0.19 per cent. The index touched an intra-day low of 16618.43 and high of 16787.67.
National Stock Exchange’s Nifty was at 4978.60, down 7.95 points or 0.16 per cent. The broader index touched a low of 4931.25 and high of 4989.50.
“Yesterday's recovery suggests us that the bull strength is still intact however; the recovery above 5020 level is needed to continue the same. On the lower side the level of 4925 may act as a major support for the market and failure to hold the same may invite further sell off in the market. Below 4925 level the index may reach 4870/4880 level. Traders can search for fresh trading long opportunity around these levels,” said Kotak Securities report.
BSE Midcap Index was up 1.21 per cent and BSE Smallcap Index moved 1.53 per cent higher.
Amongst the sectoral indices, BSE Healthcare Index gained 2.68 per cent, BSE Oil&gas Index and BSE Realty Index was up 0.99 per cent each.
BSE IT Index was down 1.29 per cent and BSE Metal Index tripped 0.84 per cent.
TCS (-2.15%), Infosys Technologies (-1.49%), Bharti Airtel (-1.43%), ICICI Bank (-1.30%) and Sterlite Industries (-1.27%) were amongst the Sensex losers.
Gainers included Sun Pharmaceuticals (1.61%), Reliance Industries (1.26%), Maruti Suzuki (1.03%), ONGC (0.70%) and NTPC (0.59%).
Market breadth was positive on the BSE with 1765 advances and 766 declines.
News Source : Sensex lacklustre; Pharma, Oil & Gas up
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