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Markets recover from early loses, manges to close in green

June 12th, 2008

The Indian stock markets opened the day in the red. Traders are in a range bound manner for the first few hours of trade but rebounded as markets continued to gain strength. The Nifty 4400 mark was closely watched but with a new wave of buying coming in, the markets continued to gain strenth and finally closed the day marginally in the green territory.

Nifty closed at 4539.35 up 0.35%. The CNX Nifty Junior closed up 0.52%. Bank Nifty is up 0.47%, CNX 100 is up 0.37%, CNX Midcap is up 0.76% and Nifty Midcap 50 is up 1.43%. CNX IT has put a poor show and closed the day marginally down by 0.07%.

The Sensex opened at 14,957.53, touched an intra-day high of 15,270.85 and low of 14,747.99 and finally closed the day at 15,250.20 and is up 0.43%. The Midcap and Smallcap indices too closed marginally in the green.

Looking at the BSE Sectoral indices, the IT, Health care and Auto are down. Consumer Durables, Oil & Gas and Consumer Goods have rebounded the most.

Ideal Cellular is up 11.02% today. The script opened the day at 96.90 and last traded at 107.80. Other gainers of the day include Reliance Petroleum, Reliance Infra, Unitech, Tata Steel, State Bank of India, Sun Pharma, L&T, BHEL and Bharti Airtel.

The losers pack is lead by Suzlon followed by Ranbaxy, HDFC Bank, DLF, Ambuja Cement, National Aluminium, Tata Communications, NTPC, BPCL and Infosys Technologies.

1 U.S. dollar = 42.5495702 Indian rupees

Entry Filed under: Equities