It all turned around when we thought the markets were recovering and giving the hopes to start the October month on a positive note. Whatever gains the markets had this week dissolved with the dip today. However the last week of September the markets have closed with a 1.5% gain over the last week.
If the whole September month is taken into account, the Sensex has gained 1.8% whereas dipped about 13% for the September Quarter.
Talking about the global cues the US markets had a mixed end on Thursday with the German approval being made. It dint seem that the markets had any major boost with the decision coming in. The Dow Jones closed up by 143 points at 11,154 this Thursday. Looking at the Asian markets for today most of them were also down closing in between 0-2% below their previous close.
Coming back to the home markets the Banks, Metals, FMCG, Oil and Gas sector witnessed a dip today. Nifty closed at 4943.25 and Sensex closed at 16453.76 which is dip of 72.2 and 244.31 points respectively. Moreover, Sesagoa, Ranbaxy, and Ambuja Cement closed the day in the green with a rise of 1.2-4%. On the loosing side the performer of yesterday Reliance Capital plunged by about 12% with Reliance Communications and Reliance Infra ending on a loosing side of more than 7% each.
Bell the Bull says: Predicting the market and playing it safely would take huge patience and skill with it behaving in this manner.