Volatility kept market away from 13000!

Sensex opened with a gap up and soon spurted to a new all-time intra-day high of 12,994. Markets are hovering at its all time high and certainly this is driven by huge liquidity flow. It seems that FIIs interest is back to market. Rupee has seen appreciation and currently trading at around 42.21. Indian economy is good going and we believe that rupee will see more strength in long run. Coming back to market, after a three-days Bull run it was the Bear which took over due to caution trading and heavy profit bookings. Market was weak and ranged. Weak global cues also added weight to the indicies. Stocks from cement, energy, FMCG, power and telecom sectors were the key losers while selective stocks in aluminium, auto, software and steel held the ground.

Sensex closed down by 44 points at 12883.83. Losses were seen in HDFC Bk (1009.1,-4 percent), HLL (231.8,-2 percent), NTPC (128.35,-2 percent), HDFC (1514.65,-2 percent) and Grasim (2624.3501,-2 percent). Losses were restricted by gains in Satyam (450.45,+3 percent), BHEL (2462.55,+2 percent), Hero Honda (757.95,+2 percent), ICICI Bk (727.05,+1 percent) and TISCO (515.7,+1 percent).