Sensex Up By 23.48 Pts; Nifty Gains 16.75 Pts

Sensex Up By 23.48 Pts; Nifty Gains 16.75 PtsThe Sensex ended the week on a flat note amid volatility as investors booked profit at higher levels.

Realty sector, which 10.57%, was the major gainer on Friday on expectations of further cut in interest rates and a strong fiscal stimulus from the government.

Auto (1.79%) and consumer durable (1.59%) stocks also gained while oil & gas stocks (-0.63%)went down.

BSE Midcap and Smallcap index gained 1.85% and 0.86% respectively.

The 30-share index, BSE Sensex opened at 10,001.33 after losing 75.10 points on Friday (Dec 19). Afterward it went up and continued to trade positively for most part of the day.

Finally, Sensex closed the day after making a gain of 23.48 points at 10,099.91. It also touched an intra-day high of 10,188.54 and an intra-day low of 9,987.42.

In contrast, the broad-based NSE Nifty ended at 3,077.50, up 16.75 points. It also touched an intra-day high of 3,106.80 and an intra-day low of 3,036.30.

The overall market breadth was positive. Out of 2599 stocks traded on BSE, 1482 stocks recorded gains. 1033 stocks declined and 84 stocks closed on a flat note.

The major gainers in the 30-share index were DLF, Unitech, Jaiprakash Associates, Sterlite Industries (India), Hindustan Unilever, Mahindra & Mahindra, Tata Motors, India Bulls Real Estate, Anant Raj Industries, Orbit Corporation, Omaxe, HDIL, Penland, Parsvnath Developers, Ansal Infrastructure, Mahindra Lifespace, Phoenix Mills among others.

On the other hand, the biggest losers in the Sensex were Satyam Computer Services, ONGC, ACC, HDFC, ITC, HDFC Bank, Nalco, Ambuja Cements, Cairn India and Idea Cellular.

P.K. Agarwal, president -research, Bonanza Portfolio said, “Friday was another choppy trading session in Indian markets. Nifty traded between 3,036 and 3,106. Nifty closed marginally up at 3,077.”

He also said that the stock markets are expected to remain range bound (2,925-3,125) next week, which is shorter due to Christmas holiday on 25th. Also F&O settlement on December 24 (Wednesday) shall keep markets ranging.

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