Market Review - Sep 12 2009

After a volatile trade, Markets managed to close in green on the back of last hour recovery. Sensex gained 47 points to close at 16264, while Nifty added 10 points to finish at 4829. BSE Mid-cap and Small-cap indices continued to under perform by losing 0.1% and 0.4% respectively. Index of Industrial Production (IIP) for the month of July showed a growth of 6.8% as against 8.2% (revised figure) in the previous month and 6.4% in the same period of last year. On weekly basis, Sensex and Nifty have gained 3.7% and 3.2% respectively. Among the sectoral indices, Metal index and Bankex were the top gainers, putting on 7.7% and 6.7% respectively over the week, while FMCG and Realty indices lost 3% and 1.2% respectively. European markets were up nearly three fourth of a percent, with financial shares extending recent gains and miners rising on global economic recovery hopes. US stock indices futures were flat.

BSE Consumer Durable and PSU indices were the top gainers among the sectoral indices for the day, rising 1.8% and 1.5% respectively. Realty and FMCG indices lost the most, shedding 1.6% and 1.2% respectively. Hindalco surged 6%, becoming the top gainer among the Sensex stocks, followed by ICICI Bank, which gained 2.5%. Sterlite Ind. and DLF lost 2.7% and 2.5% respectively. BSE advance-decline ratio stood at 1:1.6.