Friday and Monday were two very bad days, followed up by day of consolidation. Today, the Nifty sort of stabilised and did not lose any group. After trading in a 50 point range throughout the day inched closer to the higher end of that band, by the time trade closed in the last half an hour.
It was not such a bad closing after all. A couple of stocks like HCL Tech and TCS have their results coming. HCL Tech results are tomorrow and TCS are on Thursday. Those stocks firmed up towards the end giving the Nifty a little bit of a fillip.
The financials egged on by three good results from Induslnd, HDFC and IDBI. Those might have lifted the sentiment in the banks stocks. Some of the private banking names like Axis, HDFC Bank and ICICI Bank did not do badly. Even IDFC picked up in the late session.
Telecom had a good session. Bharti and RComm were both up. Cairn was in the news today and closed 2.5% higher.
Crude cooled down to about a USD 120 per barrel, which is why HPCL, BPCL and IOC closed in the green.
Not all was good. Hero Honda corrected 5% after it's recent rally. Other auto stocks did not do a whole lot.
After yesterday
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