Sensex from 19000 to 20000 in 7 Trading sessions

The robust economic growth and the euphoria among the Foreign Institutional Investors coupled with inflows during the current year alone to the extent of nearly $16.5 billion all have fuelled the market with the market sentiment in the positive. If the present trend of the index going up from 19000 to 20000 in just seven trading sessions is any indication, the sensex should reach 21000 by Diwali this year. But caution is the word that should be taken because the downward fall is more sharp, sudden and painful.

The Sensex of Bombay Stock Exchange (BSE) opened steady at 20039.43 points and pulled up the market to 20105.54 However, profit taking at higher levels pulled the market down to 19804.02 before settling at the end of the day at 19941.72 points This was 59.43 points down over Tuesday's close of 20001.55 or 0.3% down. The major gainers among A Group shares were TECH MAHINDRA, MOSER BAER, PUNJ LLOYD, ZEE ENTERPRISES, IDBI BANK, MARUTI while the major losers in A Group were ISPAT INDUSTRIES, DABUR INDIA, INDIA BULLS REAL EST.HINDUSTAN CONST. JAIPRAKSH ASSOCIATES.

Nifty of the National Stock Exchange (NSE) behavior was no different Opening at 6008.40. Nifty saw a high of 6037.40 and low of 5946.45 before settling at the end of the trading hours at 5991.00 making it 18.05 points lower or 0.30 percent less over the closing rates of Tuesday.The major gainers in Nifty of NSE were MARUTI ABB HDFC SBI SIEMENS and major LOSERS included JP ASSOCIATES, CAIRN, RCOM,LT, and TCS.