A Range Bound Session
DSIJ Intelligence / 16 Jul 2010
Markets Close in green after a tiring range bound session
It was boring and range bound session for the Indian equity markets. While the markets managed to open in the green there was a continuous profit booking pressure on every rise. Yesterday’s close was a major support for the markets and it bounced back from the same level almost four times.
While Sensex closed at 17956 (Up 46 points) Nifty closed at 5394 (Up 15 points). On the sectoral front IT sector was the clear-cut winner with a gain of 1.85 per cent. Better than expected results of TCS made all the difference for the IT companies. The better outlook from Infosys and good results of TCS only indicated towards the better scenario in IT Sector. Telecom also performed well after few dull sessions.
Other indices remained range bound. Advance decline ratio was positive with 1603 advances and 1308 declines.