Q: The Markets closed the session on a flat note after huge volatility throughout the day. The BSE 30-share Sensex rose 61.52 points or 0.57%, up close to 145 points from the day's low and off close to 130 points from the day's high. The Sensex registered its highest closing in nearly six months. Buying in shares of realty, select banking, metal, capital goods companies and in stocks like Bharti and Reliance Industries helped the markets while the sell-off in FMCG stocks, ONGC, NTPC, BHEL, Wipro, Reliance Communication, and Suzlon Energy capped the gains. It seemed that the benchmark indices broke five-day winning streak. Broader indices remained outperformers for the sixth consecutive day and kept the market breadth on the positive side. Index of Industrial Production (IIP) numbers were in line with estimates and inflation numbers were also announced today. More details http://16anna.com/market.asp
A: Market is likely to extend gains as global cues are supportive which may help boost confidence. Significant buying in banking and realty stocks yesterday helped the index rally for the eight straight day. The Sensex successfully closed above the 11,000 mark while the Nifty near to touch 3500 mark. Finally the Sensex rallied 317 points to close at 11,284 and the Nifty ended 101 points higher at 3,484. Meanwhile, Inflation data, scheduled to be announced around noon, is forecast to have turned negative for the first time in early April due to weak economic activity and last year's surge in prices. However political uncertainty ahead of the parliamentary elections may cap near term upside and profit booking cannot be ruled out. According to data released by the NSE, in the last session, FIIs were net buyers of index futures to the tune of Rs 535.19 crore and bought index options worth Rs 44.56 crore. They were net sellers of stock futures to the tune of Rs 764.16 crore while sold stock options worth Rs 2.54 crore.
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