Market Outlook : Sept 30th, 2008

By Abhishek on 7:34 PM

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After carnaige of  777-point fall on DOW JONES, the highest-ever for the Dow had faced  as House of representatives denied the $700-billion financial-rescue plan. All market across the Globe fall as per expectation. In Asia, all asian market reported high volatility for the entire trading session. In the early trades, our market also opened lower taking clues from Asian and other world markets. SENSEX & Nifty both opened lower, but rebound sharply due to heavy buying in Heavyweight, banking and realty stocks. This led Index to turn positive. Sensex touched the day’s high of 12,995 led by ICICI Bank, HDFC & TCS . The Sensex finally ended the trading with a gain of 265 points at 12,860 & the broader Index NSE Nifty closes it shop at 2,921 by gaining 71 points.


Bankex were the star of the today trade with a gain of more than 5%. Followed by Capital Goods sector adding fuel for  3%.  All secorial Index was on Green except the two BSE Metal and FMCG sector due to cutting prices.  Both were down about 1.7% and 0.9% respectively.  ICICI Bank and TCS were the most gained stock on the SENSEX gaining 8.42% and 6.96% among the TATA STEEL and TATA MOTOR were the top lossing stock, loosed 4.43% and 3.27% respectively.

Turnover on 11th Sept , 2008

NSECash Rs.14793.95 BSECash-Rs.5179.85 Future Rs.56549.63

Arbitrage Opportunities NSE & BSE
No Arbitrage activity found in any stock.

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