Golden Investment Research (P) Limited
Ding ! Ding ! Stock Market Closing Bell !!!
The Sensex has jumped 720.94 points or 4.66% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 3,635.28 points or 18.34%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,040 points or 6.87%.
Coming back to today's trade, index heavyweight Reliance Industries (RIL) extended Tuesday's rally. Interest rate sensitive realty and banking stocks rose on expectations that the Reserve Bank of India (RBI) will start cutting interest rates in the coming months to prop up slowing economy. Metal stocks rose amid continued anticipation of further monetary policy easing from China. IT stocks fell as rupee hovered near one-month closing high. Shares of organised retailers surged after the government on Tuesday, 10 January 2012, enacted an order fully opening the country's single-brand retail sector to foreign investment.
The market regained positive terrain after slipping into the red after hitting one-month high at the onset of the trading session. The key benchmark indices alternately moved between the positive and negative terrain in morning trade. The market trimmed gains after strengthening in mid-morning trade. The 50-unit S&P CNX Nifty trimmed gains after hitting fresh one-month high in mid-morning trade. The market regained strength as key benchmark hit fresh one-month highs in early afternoon trade.
A bout of volatility was witnessed in afternoon trade as key benchmark regained positive zone after reversing direction after surging to fresh one-month high in early afternoon trade. Intraday volatility continued as key benchmark regained positive zone after slipping into the red again in mid-afternoon trade. The market regained positive zone after slipping into the red to hit fresh intraday low in late trade.
The BSE Sensex rose 10.77 points or 0.07% to settle at 16,175.86 its highest closing level since 9 December 2011. The index rose 79.61 points at the day's high of 16,244.70 in early afternoon trade. The index fell 37.32 points at the day's low of 16,127.77 in mid-afternoon trade.
The S&P CNX Nifty advanced 11.40 points or 0.24% to settle at 4,860.95, its highest closing level since 9 December 2011. The index hit a high of 4,877.20 and a low of 4,841.60 in intraday trade.
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