The FIIs were net sellers with sales worth Rs 81.73 Cr (prov. cash market fig)..
After a solid start and a promising day, the close was highly disappointing with the key stock indices ending just a tad higher owing to a sudden decline in the last half an hour or so. The Indian markets ended the day with modest gains, snapping a five-day losing streak. The benchmark indices took an ugly turn in late trading led by weakness in select index heavyweights like L&T, Hero Honda, Bajaj Auto, Cipla and SBI.
The arrest of former telecom minister also proved disquieiting for the market. Former Telecom Minister A Raja arrested by the CBI in the 2G Spectrum case while his former aides R K Chandolia and Sidharth Behuria have also been arrested on Wednesday.
The BSE 30-share Sensex was up 68.40 points or 0.38% to 18,090.62. The index gained 283.78 points at the day's high of 18,306 in mid-morning trade. The index rose 20.39 points at the day's low of 18,042.61 in late trade. The S&P CNX Nifty was up 14.80 points or 0.27% at 5,432. The BSE Mid-Cap index fell 0.03%. The BSE Small-Cap index gained 0.08%. Both these indices underperformed the Sensex.
The market breadth was positive compared with a strong breath earlier in the day. On BSE, 1453 shares advanced while 1404 shares declined and a total of 121 shares remained unchanged. Among the 30-member Sensex pack, 17 fell while rest rose. BSE clocked turnover of Rs 3446 crore, lower than Rs 3456.44 crore on Tuesday, 1 February 2011.
FOR TODAY: Last day, the market has closed as indecisive "Inside Day". US as well EU markets closed flat except FTSE. Asian markets are trading mixed. SGX Nifty is trading at 5430, 2 points lower. Nifty may open around 5424-5433 and try to move 5445.
Today's trading range probably between 5400 and 5515. Below 5400, the supports are at 5350 and 5320. On the upside, resistances are at 5515, 5548, 5585.
WATCH RIL, ABAN, JSW STEEL TODAY. If 5400 (nifty spot) holds today, one may buy/invest only in blue chip stock like RIL, LT, INFY, BHEL, ONGC slowly atleast with a view of 2-3 months. Avoid Unitech, DLF, Jain Irrigation for the time being.
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