Business Market 24 Sep 2016 Markets recover to e ...

Markets recover to end the week with minor gains

PTI
Published Sep 24, 2016, 1:13 pm IST
Updated Sep 24, 2016, 1:13 pm IST
The benchmark Sensex garnered 69.19 points to reach 28,668.22 level.
The rally was pulled-down during the weekend on lower global cues.
 The rally was pulled-down during the weekend on lower global cues.

Mumbai: The lacklustre trading week saw the market ending with minor gains, with benchmark Sensex garnering 69.19 points to 28,668.22, while the broader Nifty rising by 51.70 points to finish at 8,831.55.

Trading started on sombre note as the investor minds restricted by the policy decision of key central banks of Japan and US looming the sentiment as the consolidative trading week largely supported by global cues amid crude oil prices.

 

The Bank of Japan keeping the interest rates steady adding new policy measures expansion to fight deflation led heavy bouts of shortcovering soon to be washed-out in the fag-end.

The real recovery for the domestic market came after the US Fed's decision to keep interest rates unchanged and subsequent global rally bolstering the investors sentiment allaying the fear FII liquidity stake at the moment.

However, the rally was pulled-down during the weekend on lower global cues after crude oil prices turned volatile, also profit booking in recently gained Banking sector amid looming futures and options derivative expiry next week led the key indices to end the week with mild gains.

 

The Sensex resumed higher at 28,626.60 and hovered between a high of 28,871.92 and low of 28,462.33 before closing the week at 28,668.22, showing a gain 69.19 points or 0.24 per cent.

The NSE Nifty also gained by 51.70 points, or 0.59 per cent, to 8,831.55, after moving between a high of 8,893.35 and 8,757.30.

Buying was seen in Metals, Oil&Gas, Realty, IPOs, PSUs, Consumer Durables, Auto, Capital Goods, HealthCare, Power, Teck and Bankex well supported by second line shares of midcap and smallcap companies shares.

While, FMCG and IT counters incurred profit-booking.

 

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
-->