Monday, July 27, 2009

MARKET VIEW 27 JULY 2009



Despite weakness in the stock of big boy Reliance Industries on the back of poor results, markets showed resilience and closed flat in today’s trade. Sensex lost 4 points to close at 15375, while Nifty ended at 4572, up 4 points. However, rest of the Asian markets closed with decent gains. BSE Midcap and Smallcap indices outperformed the benchmark indices significantly, putting on 1.6% and 1.5% respectively. Reliance Ind. finished lower by 3.7%. European markets were trading higher by about 1%. US stock indices futures were up by more than half a percent.
BSE Oil & Gas lost the most among the sectoral indices in today’s trade, plunging 3.1%, followed by Auto index, which lost 0.5%. FMCG index surged 3.6%, gaining the most, followed by Realty index, which was up 3.1%. HUL was the star performer among sensex stock, gaining 5.9%, followed by Tata Power, which gained 5.5%. Reliance Industries and Hero Honda were the top losers, shedding 3.7% and 3% respectively. Turnover at Rs. 75700 cr. was nearly 25% lower than that of Friday.

No comments: