SENSEX down 227.76 points on Weak Overseas trend and Profit Booking

Posted Date: 07-Oct-2010	Category: Stocks Market	Rating:
Author: naduvilmadam	Member Level: Gold	Points: 8 (Rs 2)

Following the global indices and profit taking at higher levels, saw the Bombay Stock Exchange (BSE) Sensex ending the day with 227.76 points down. The day saw volatility in the market and during the last one an half hours of trade the Sensex sank and closed at 20315.32 points.

Following the global indices and profit taking at higher levels, saw the Bombay Stock Exchange (BSE) Sensex ending the day with 227.76 points down. The day saw volatility in the market and during the last one an half hours of trade the Sensex sank and closed at 20315.32 points. During the last 15 days the Sensex had reached its 33 months high which was witnessed in January 2008.
Though the combined net purchase of Foreign Institutional Investors at both h BSE and National Stock Exchange on October 7, 2010 stood 1182.91 crores, the domestic institutional investors(DIIs) continued with their net sale at Rs 1193.53 crores. The DIIs are sitting on a huge pile of cash and are awaiting to jump in after consolidation/correction.
During the volatile trade today, the Sensex was 309 points between its high and low and during the last 1 ½ hours of trade brought it down by almost 228 points. The BSE Sensex which opened at 20544.30 went up to 20581.29 and a low of 20272.77 finally settled at 20315.32 points or lost 227.76 and lower at 1.11 percent over its previous close. The major Gainers in A Group shares were Biocon, Adani Enter, IRB Infra , Mahindra & Mah Fin and Tata Global while the major losers in A Group were Tata Steel, Unitech, Shipping Corp, and Sesa Goa

The National Stock Exchange
(NSE) opened at 6186.85 and went up to 6,199.45, saw a low of 6,107.50 and closed at 6,120.30 a lose of 66.15 points or 1.07% less than its previous lose. Only 8 scrips while 42 scrips in the Nifty declined during the day. The major gainers in Nifty were Tata Power, Cipla, Dr Reddy Bhartiartl, and Hero Honda while the losers in Nifty comprised Tatasteel ,Sesagoa, Relinfra, Idfc and Dlf
The Gold continued its upward journey mainly due to dollar depreciation. The weakening of the Greenback is immediately noticeable in the price of gold, and the spot rate of gold was $1360 an ounce It had touched a high of 1364 during last week.

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