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Indian markets jump back as recovery button is pressed

January 23rd, 2008

Thanks to increased buying activity, scripts, particularly of the large caps and midcaps gained the lost confidence today. CNS Nifty closed at 5203.40 as against the previous closure of 4899.3 which is up 6.21%. The Midcap stocks are outperforming today too. CNX Midcap index is up 7.51 while the Nifty Midcap 50 is up 11.40%

BSE Sensex closed at 17,594.07 as against to the previous closure of 16,729.94. This is a jump up by 5.17%. Almost all sectoral indices on BSE are up today. Realty stocks too plunged back. BSE Realty is up 11.44%. BSE Power index is up 9.81%. Oil & Gas is up 8.73%.

Amongst the IT Sector, sans Wipro, all stocks on the CNX IT Stock Watch are up. Satyam is one stock that recovered the most. Satyam closed at 393.15 and is up 11.15%.

All scripts on the Bank Nifty too jumped well today. Union Bank is up 22%, Bank of Baroda and Punjab National Bank are up 11% while Canara Bank is up 10%. ICICI Bank is up a modest 2.3%

Entry Filed under: Equity Markets, BSE, NSE, Closing Bell