Mkt displaying some strength at the moment

Markets were a little volatile but ended up displaying strength. The start was very quiet. Then the better part of the trading session was spent in a range. The market was looking like it was putting up a bit of a fight.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney
moneycontrol.com

Home » News » Markets » MARKET OUTLOOK

Dec 12, 2008, 05.47 PM | Source: CNBC-TV18

Mkt displaying some strength at the moment

Markets were a little volatile but ended up displaying strength. The start was very quiet. Then the better part of the trading session was spent in a range. The market was looking like it was putting up a bit of a fight.

Like this story, share it with millions of investors on M3

Mkt displaying some strength at the moment

Markets were a little volatile but ended up displaying strength. The start was very quiet. Then the better part of the trading session was spent in a range. The market was looking like it was putting up a bit of a fight.

Post Your Comments

Share Cancel

Here is a verbatim transcript of Mitali Mukherjee’s comments on CNBC-TV18. Also watch the accompanying video.

 

This time around we were a little volatile. But the market actually ended up displaying strength. So the start was very quiet. Asia was not actually up too much. Our own market was looking a bit sub-par. Then we spent the better part of the trading session in a range.

 

However, the second half showed up some weakness. We came off quite a bit. At one point the Nifty was looking like it was going to break that trading level of 2,850 as well. Then there was quite a rebound. So while the closing ticks will indicate that it might have been a flat session, it wasn’t really. We were all over the place. But we did manage to put up a fight at 2,900. So, it is heartening to see for the second day the market has managed to trade above that level.

 

It was a lot about the Reliance stocks in the last one hour. Everything that had Reliance attached to it – either brother – was rallying and rallying very hard. So, Reliance Industries the heavyweight was up 5%. Reliance Petro made a big move and was up 10%. The traders’ favourite, RNRL was up a whopping 30% by the time we wrapped up trade. This whole bulk was looking extremely strong.

 

There were pockets that came off and saw some profit booking. Real estate has bounced very hard from the lows that it saw recently. In fact many of those stocks are up 40-50% from their recent lows. Metals eased off the pedal a little bit. There was distinct weakness in some of these IT stocks. TCS , Satyam , Wipro , perhaps reacting the near-term strength we have been seeing in the rupee. But IT remained a big underperformer.

 

The broader market looked quite resilient through all this. The index started off in the green, remained trading over there. We didn’t have too much trouble with the breadth. So, by the end of it, we have closed up with about a 2:1 advance to decline ratio, and not bad turnover, almost in line with what we saw yesterday. The market as well was looking like it was putting up a bit of a fight.

Buy, Hold, Sell ? Hear it first on M3
Mkt displaying some strength at the moment
Silver Member
1 Follower

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login