Post Market Report: 17-12-09
| SENSEX | 16719.83 |
 |
-174.42 |
| NIFTY | 4987.70 | |
-54.05 |
- Summary:
The BSE Sensex posted its worst weekly performance since end of October, after it shed 1 percent on Friday, led by losses in energy major Riance Industries and top private lender ICICI Bank
Meanwhile, the expectations of a quick action by central bank to tame inflation heightened after sources said Reserve Bank of India Governor Duvvuri Subbarao will meet Finance Minister Pranab Mukherjee on Friday evening.
The Nifty closed below the psychological 5,000 mark for the first time in the last 15 sessions. The sell-off was seen across all the sectors barring pharma and auto. Realty, oil & gas, banking and FMCG were the major losers. However, Tata Motors, TCS, HCL Tech, Wipro, Sun Pharma, Ranbaxy, Hero Honda and Cipla were the only gainers. The markets were in a consolidation mode till 2 pm and traded in a tight range of 5,010-5,060.
- Reason of Today’s Trend:
The BSE Sensex closed lower on Friday as falls in Asian markets add to concerns about foreigners repatriating funds into year-end, its first weekly fall in three weeks. European regulators proposed stricter capital rules for banks.
- What to expect from here:
There is no buying conviction. Every rise is a selling opportunity now. The market has run out of steam completely. Correction may take place now.
Related posts:
- Difference between NSE and BSE
- Major Stock Exchanges in world
- What are stock exchanges all about ?
- RBI Governer to meet Finance Minister
- Trading in BSE/NSE starts at 9 AM from 4th January
Filed Under: Market Report
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