Daily Market Outlook: 26 June 2009

Being a expiry for may contract it was expected to be a volatile day for the Indian equity market and it lived up to the expectations. While it witnessed a gap up opening in the morning and remained in positive zone till afternoon Session it crumbled in the closing hours. Now while he Sensex closed at 14345.62 (Down 77 points) Nifty closed at 4241.85 (Down 51.10 Points). On the Sectoral front Automobile and Oil sector indices declined significantly. The Delay in monsoon seems to be reason behind decline in auto index. But realty and Bankex remained firm during the whole session. Mid cap and Small Cap indices remained stagnant. The market breadth was positive With 1410 advances and 1214 declines.