MARKET OUTLOOK 24.06.2009

The market closed on a flat note on the back of much choppiness and volatility. After a day marked by weakness, the market came back spectacularly to close off the day's low. Sector like the oil & gas led in consolidating its gains. Sensex shut shop at 14324, down 2 points and Nifty at 4247, up 11 points from the previous close. CNX Midcap index was up 0.3% and BSE Smallcap index was down 0.1%. The market breadth was negative with advances at 514 against declines of 724 on the NSE. Top Nifty gainers included Grasim, ONGC and RIL while losers included National Aluminium, ICICI Bank and HDFC Bank.