India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Friday, December 31, 2010
Sensex surges...Nifty ends above 6100
The bulls seemed to have rediscovered their winning ways in the last couple of days with the Indian markets extending the upswing for the second straight session on Thursday. It was a volatile day as the NSE Nifty swung by over 40 points intraday between the day's lows and highs.
Buying in Realty and IT stocks lifted the Nifty to end above 6100. Even the broader indices participated in the rally.
"Today’s rally was seen despite weak cues from the Asian and the European markets. Total turnover was low when compared to previous F&O expiry days. So, one cannot read too much into the advance of the last two days. The next few sessions could again be choppy and rangebound before things start to pick up, "says Amar Ambani, Head of Research - India Private Clients - IIFL.
The BSE Sensex advanced 133 points to close at 20,389 after touching a day's high of 201410. It had opened at 20,274.
The NSE Nifty gained 42 points to close at 6,102 after touching a day's high of 6106 It had opened at 6062