Smart Recovery to End the Trading Session

Today Indian market started trading session with selling pressure since morning. Market ended in green showing smart recovery in last couple of hours as buying activity emerged near psychological levels. The benchmark indices were flattering due to the weak global cues before a sudden buying activity in banking stocks, post the food inflation data, pulled the Sensex more than 200 points. The Asian markets closed in red, down more than 1 percent. The European market also had soft opening in their early trade. The benchmark indices Nifty and Sensex again closed above psychological levels at 5711 and 19046, slightly up by 0.36 percent. The Bankex and IT index were lead the rally and were up by 1.66 and 1.13 percent respectively. The Oil & Gas and FMCG indices were the worst hit and were down by 1.50 and 1.19 percent. The market breadth was negative with 1416 declines against 1332 advances on BSE.