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Sep 12, 2012, 08.38 AM IST
Udayan Mukherjee, managing editor, CNBC-TV18, says that it was a very quite start for the week with nothing in trade today. Volumes were low, the market fell into a range bound groove early in the day and then never quite got out of that. The Nifty finally closed flattish.
Udayan Mukherjee, managing editor, CNBC-TV18, says that it was a very quite start for the week with nothing in trade today. Volumes were low, the market fell into a range bound groove early in the day and then never quite got out of that. The Nifty finally closed flattish.
Some pockets did well and they included some of the metal names because of the Chinese stimulus which is been spoken about. Bharti had a good day and some of the pharmaceutical names like Sun and Ranbaxy also did fine. But the Bank Nifty was not very comfortable today. Names like Axis Bank , SBI , and ICICI were a bit sluggish. BHEL was below Rs 200 for most of the day, which is not good and JSPL also had an off day. Midcaps were fine but we saw some good moves in stocks like Pantaloon , Manappuram , Renuka , Adani Enterprises , Jyothy Lab , BGR Energy , VIP , and Wockhardt . No great sectoral flavour but individual stocks did well but not everything was good HDIL had a bad day. Reliance Communications has quite a nasty cut. Deccan Chronicles and IRB Infra were other names which did not do very well. But otherwise it was a forgettable session of trade, spent mostly in consolidation rather than any directional thrust.
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