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Jun 21, 2012, 08.12 AM IST
Udayan Mukherjee, managing editor, CNBC-TV18, says that it was a range bound session and a quiet day. The market was waiting for the Fed verdict. Global markets were side ways today. After the start of trade today, India fell into a bit of a trading range very quickly.
Udayan Mukherjee, managing editor, CNBC-TV18, says that it was a range bound session and a quiet day for the market. The market was waiting for the Fed verdict. Global markets were side ways today. After the start of trade today, India very quickly fell into a trading range.
The broader market was quite lively. Punters and traders were unwilling to take big bets on the Nifty as it's been trading in the narrow range for the last 10 days, but there was stock specific action particularly on the broader market where mid caps outperformed large caps in a big way today. Within the Nifty stocks like Tata Motors , ACC , L&T , BHEL , JP Associates , JSPL , Tata Steel , Sterlite and Sesa Goa looked smart. TCS wobbled today because of management comments indicating that forex could hurt in the near-term and Coal India also was off colour today. But the real gains outside the index was seen in Educomp on back of ranging funding for its FCCB. Aviation stocks across the board were lively today including Kingfisher , Jet and Spicejet . GVK , Lanco , Hindusthan Construction, Sintex , Pantaloon , India Cement , Omax , HOEC, Century Textiles , Hexaware and Manappuram were good today. It was a good day for the broader market but the Nifty has still not successfully moved pass 5140-5150 hump.
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