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Apr 27, 2012, 08.08 AM IST
For the entire April series, the Nifty and the Sensex were absolutely unchanged. It is rarely that a whole series passes with the Nifty and the sensex not moving at all, so it's been flat.
The market fell into a very tight 20 point range today, right from the morning and never came out of 5200 mark during the course of the day. In the last one hour mild volatility looked like for a moment that the market would come down, but it managed to close to around 5,190 and that capped off as a very flat series for April, said CNBC-TV18's managing editor Udayan Mukherjee.
For the entire April series, the Nifty and the Sensex were absolutely unchanged. It is rarely that a whole series passes with the Nifty and the sensex not moving at all, so it's been flat. FMCG, pharmaceuticals once again the defensives like in the March series continue do well and outperform the market.
Some of the sectors like IT and infrastructure did not do well during the current series. For the day, two wheeler stocks had a bit of a sell off; Hero Motors and Bajaj Auto. JP Associates and IDFC were down and some of the oil and gas stocks like BPCL and GAIL were also down.
Metal stocks like JSPL and Tata Steel did well. TCS was up today and cement did not do too badly. The breadth was not special particularly, towards the end of the session when the European markets started to come off the breadth declined a little bit, so stocks like GMR got hit hard today.
Yes Bank and Allahabad bank were both down. Sintex, IRB, India Cement and the blue chip Nestle post disappointing results came off. On the way up, Idea did well, United Spirits was up and Alstom also did quite well today. But otherwise not much to report, very unremarkable end to what is been a very unremarkable and pedestrian April series.
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