It was an unexceptional day for the markets. We finally put on just about 175-points on the Sensex after starting the day nearly 600 points higher. The Nifty too lost most of its gains in the second half of the sessions. So, it has been a case of a gap up opening and then virtually fizzling out towards the end of the session, finally closing just above that 3,500 mark. So, it has not been the perfect follow-through to yesterday's pullback rally. That would make bulls quite apprehensive because they have seen too many of these failed pullback attempts which look great for a day or two but then petered out.
Today, we saw some good moves in technology stocks and stocks like ICICI Bank . The power sector was led by Tata Power , and Suzlon . Reliance Infrastructure didn't look too bad. Some of the heavyweights like Reliance Industries , L&T , and Hindustan Unilever had a good session. This was countered by metals which fell off sharply in the second half of the session and many largecap names like ONGC , Reliance Communications , and Unitech did not look good at all by the time trade was closing.
Outside the index, we had some fairly good moves in midcap IT led by Rolta , NIIT , Sonata , and KPIT . Some of the beaten down fertiliser stocks did well. Real estate too bounced back, particularly HDIL and Indiabulls Realty . A few individual stocks like S Kumar's , ICSA , Gujarat NRE , and GMR , which had been hammered, have come back somewhat in this pullback.
On the way down, Balrampur Chini looked sticky. Sesa Goa , IFCI after disappointing earnings, Axis Bank one-day after its results did not look particularly strong. But all in all, unexceptional day - middling breadth, tepid volumes - so not quite a very convincing momentum thrust after yesterday's pullback.
It was an unexceptional day for the markets. We finally put on just about 175-points on the 
