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Apr 27, 2010, 11.18 AM IST
After a quiet Monday on Dalal Street, with the indices being stuck in a tight range, the Nifty ended the day at 5,322, up 18 points.
After a quiet Monday on Dalal Street, with the indices being stuck in a tight range, the Nifty ended the day at 5,322, up 18 points. The Sensex too shut shop with modest gains at 17,745, up 51 points. This was despite the fact that our Asian counterparts put on a good show.
Here is a verbatim transcript of Udayan Mukherjee’s comments on CNBC-TV18. Also see the accompanying video.
The Nifty traded in a very narrow range through the day after starting with a bit of a gap up—it never quite built on it. It was a very flat session—low on volatility and low on volumes—finally closing just about 20 points higher. Volumes didn’t even make it to the 1,00,000 crore mark indicating how low interest was leading up to expiry in just a couple of days and in the middle of the day we had good global cues.
Sterlite announced a bonus and a split in good numbers and that lead a rally in the metal stocks. Sterlite, Hindalco SAIL were up today. Reliance got a lukewarm reaction after the results, expectedly but the stock did not tang or anything like that—it just lost 1.5%.
Similar lukewarm reaction for ICICI Bank, post its results. DLF, which announced some news over the weekend, that stock lost 3% today. But the biggest loser was Sun Pharma on account of the Sanofi ruling, which discontinues selling in one of its products in the overseas market. Maruti was just a bit soft as well.
In the mid-caps the breadth was okay but a few really sharp movements in name like Indian Bank, Gujrat NRE coke, Ansal housing, Gati, Sasken Communications—to mention a few did very well.
On the way down Balrampur Chini in sugar continued to drag. Zee News had another bad day and 3i Infotech also came off just that little bit.
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