Markets Today: NIFTY, SENSEX in the red but outperforming its global peers.

by khalid on 06/09/2011 · 0 comments

So after a steep recovery and a week of high hopes for the markets performing well, the day saw a down trend today. However the 2nd half of the day saw the markets recovering more than half of the total fall in the first part of the day. Sensex and Nifty performed far better than the other global markets.

With the rising worries of the Euro debt market and the freshly released report on US job growth rate the global cues showed a slowdown. In the end Sensex saw a 108 points fall closing at 16,561.46, whereas NSE Index managed to close just above the 5000 mark.

According to many experts 5000 is a crucial level for the markets to decide which way it may move in the near future. The global trends for the time being seem to be uncertain with the domestic sectors facing the toll. The sectors which felt the pressure were the Oil & gas, PSU power, Tech companies, and the Private Bank sector. On the other hand the recovery witnessed was due to the good performance by the auto, Reliance Group and the metal sector.

 Stocks making the news were the Reliance Industries, HDFC, BHEL, Airtel, and Infosys, in the falling group of stocks on the Index. Whereas Hero Motocorp saw a 5.5% jump today and has rallied to more than 15% in the last 5 trading days. 695 shares showed the mark to the advances side whereas 734 shares declined over the NSE Index.

 Bell the Bull says: Throughout the market it is still unclear about the presence of any catalyst of any manner to provide a boost to the Indices.

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