Market Updates: A small upside over both the INDEX

by khalid on 26/10/2011 · 1 comment

After a bad week at the markets last week BSE Sensex saw slight gain of 0.92% on Moday. The gain was seen due to the be a indicator of the investor sentiments due to the increased possibility of a solution to the eurozone debt crisis. It also helped in a way to shrug of the possibility of another interest hike from the RBI.  However a final rate interest hike coming from RBI is expected to be on the cards this Tuesday. It is believed that this would be a last hike before the fiscal policy slated next year.

The IT sector which experienced a significant drop in the last week seemed to have gained back some of it losses in the session today. The hope for a stable global economy was the driver behind the force. TCS gained more than 2.9% and Infosys saw a jump of 1.6%. The Sensex saw an increase of 153 points to close at 16,939.28. Nifty saw an increase of 48.40 points to close at 5098.35.

The Banking Index saw a minor fall of 0.4% with the leader SBI loosing more than 2%. The auto stocks which have fell significantly in this year also saw a minor gain today at the markets.

Bell the Bull says: With the increased news of a possibility of a solution to the Euro Zone debt crisis the market showed a minute positive response with some heavy weights responding positively.

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