Promising start to the week as market closed with gains again

The market on 29th march 2010 closed with gains for 4th time in a row. The market breadth was positive as 10 of the 13 sectors closed in the green. The BSE 30-share Sensex was up 66.59points, 72.17 points up from the day's low and off 81.66 points from the day's high. The Sensex has touched the 17,7000mark with the closing of this session and it is the 15th
consecutive session the market has closed above 17,000 since 8th March.

The NSE 50 share Nifty in today’s session gained 20.85 and touched the 5300 mark as it closed at 5302.85. Nifty has been consistently in the green and above the 5000 mark 19 sessions in a row.

The sectors which quoted the maximum gain were consumer  durables, FMCG and Bankex. IT, Teck and PSU were the major losers in the market. The major market movers were Hindalco industries, Mahindra & Mahindra and HDFC which quoted the maximum gains whereas Infosys, Tata motors and index heavyweight Reliance industries were the major losers.

In global markets, the American market showed signs of improvement as Dow Jones quoted a positive change of 0.08% as of 26th march 2010.  European markets were in the green within an hour of the close of the Indian markets.

In Asian markets, Hang Seng closed in the green. The Nikkei and Kospi were among the major indices to have incurred losses. The Chinese markets also closed in the green as Shanghai and Shenzhen closed with a positive change of 2.09 and 1.24 respectively.

“Index heavyweights may have gone down but what is important
is that we keep up this good performance. The Indian markets have been up 5 sessions in a row and now look to define the global market” says Arun Kejriwal,  Director, Kejriwal Research
and Investment Services.