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7200 conquered and held - January 27, 2012

January 27th, 2012

Indian stock markets managed to hold on their gains on the last trading session of the week.

The SENSEX touched the key mark of 17233.98 gaining 156.80 (0.92%) points while the NIFTY tested the 5200 mark and held it on a closing basis. The Nifty closed the day at 5204.70 gaining 46.40 (0.90%). The CNX Midcap closed at 7089.65 gaining 38.65 (0.55%) points while the BSE Smallcap closed at 6491.69 adding 83.24 (1.3%) points in trade today. The Nifty would see some resistance at 7220. Some experts believe that there will be huge volatility that will step in and the Nifty would come back to 6700 and 6400 levels.

Tata Steel is in news for it proposed a recovery plan for tubes business in Europe. The script closed at Rs. 458.75 gaining 13.90 (3.12%) with a volume of 5.78m shares traded.

BHEL’s Q3 net fell 2% to Rs 1427 cr YoY; OPM is expected to be at 19.69% Vs 22.96%. The script was punished a bit today and closed at Rs. 273.60 losing Rs. 8.85 (-3.13%) with a volume of 6.36m shares traded.

PM forms expert committee to examine issues on sugar. Balrampur Chini reacted swiftly and the script closed at Rs. 47.60 gaining Rs. 2.80 (6.25%) with a volume of 2.14m shares traded.

Entry Filed under: Equity Markets, Closing Bell