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Friday fever keeps market hot, consolidation on cards
"It promised to be a good session as global markets seemed quite robust going into Friday’s event," said CNBC-TV18’s Udayan Mukherjee. While the Asian markets were okay, Europe started off well, and Nifty ran into resistance at 5,100 today.
"It promised to be a good session as global markets seemed quite robust going into Friday's event," said CNBC-TV18's Udayan Mukherjee. While the Asian markets were okay, Europe started off well, and Nifty ran into resistance at 5,100 today.
"In the last 30 minutes the market virtually gave up all of its gains to come back closer to the 5,050 level. However, we have had a good run so far, and now the market seems to be entering a phase of consolidation, gearing to brace the Euro summit on Friday," Mukherjee pointed out.
Among the surprises and the disappointments, largecap names like Bharti , NTPC and ICICI Bank did upset the Street but IT stocks did well and few metal stocks also bounced back.
"The broader market was okay. On the winning side Pantaloon stood out because it started weak in the morning but then post the deferral of FDI in retail the stock actually bounced back and closed 5-6% high. We saw some action in textile stocks today like Arvind , Alok , S Kumars and some of the midcap infrastructure names like Nagarjuna , IVRCL and SREI Infra all looked good Also a good day for Natco Pharma , Dewan Housing , Yes Bank among the other names," Mukherjee said.
