Markets Cheers on Expiry Day
DSIJ Intelligence / 29 Sep 2011
Today the Indian market showed smart rally on expiry day. This positive movement is also supported by positive sentiments in European markets. The benchmark indices Nifty and Sensex ended 1.5 percent higher. The Nifty closed above the psychological level of 5,000 today. Oil & gas, banks, technology, FMCG and auto stocks were the key drivers in today's market rise. The favorable verdict in German Parliament over European bailout package had some cheers in Europe. CAC and DAX rose 0.2-0.7 percent while FTSE were trading 0.6 percent down at the time Indian markets closed. The midcap and small cap indices on Bombay stock exchange closed marginal down by almost 0.11-0.16 percent. the auto, IT, FMCG, Oil & Gas and Bank indices were closed up by 2.35, 2.03, 1.82, 1.49 and 1.46 percent respectively. The consumer durable index was down by 1.36 percent. the overall market breadth was negative on Bombay stock exchange with 1507 declines against 1265 advances.
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