NIFTY at new lifetime highs, BSE SENSEX to follow
It was a shortened week at the bourses with Monday being a trading holiday. Markets gained on three of the four trading sessions and lost on one.
It was a shortened week at the bourses with Monday being a trading holiday. Markets gained on three of the four trading sessions and lost on one.
Nifty closed on a flat note with negative bias, while most sectoral indices closed in the green on Thursday.
The maxim ‘truth is stranger than fiction’ plays out daily in our lives. On the one hand, tax collections, Sensex and sales of high-end vehicles are at record levels and people were seen queuing up to buy gold on Dhanteras but on the other, the subsidised ration scheme had to be extended for five years and the extraordinarily large number of people applying for work under MNREGA, resulted in budgeted funds getting exhausted by mid-year.
As the market unfolded, the benchmark Sensex experienced a dip of 120.45 points, commencing at 65,555.48.
The Sensex ended the special one-hour session up 355 points at 65,259 points.
Market history tells us that sharp up moves in the market happen at unexpected times. It appears that this truism is turning out to be true
The BSE Sensex is down by more than 800 points to fall below the 64,000 points mark on Thursday.
Heavy selling in Sensex heavyweights with Infosys down 3 per cent, NTPC down 3 per cent, Bharti Airtel down 2 per cent.
All the sectoral indices ended in the green with the power index up 1%. FMCG, PSU Bank, metal, and oil & gas added 0.5% each.
The BSE Sensex crossed the 66,000 mark during trade on Tuesday with a gain of 559 points.
