BSE Sensex gives up early gains; logs worst weekly drop in 4 mths

May 30 2014, 17:46 IST
Comments 0
BSE Sensex ends 17 pts lower at 24,217.34; NSE Nifty closes 6 pts down at 7,229.95. (PTI) BSE Sensex ends 17 pts lower at 24,217.34; NSE Nifty closes 6 pts down at 7,229.95. (PTI)
SummarySensex closed 0.07 pct lower at 24,217 pts, while Nifty ended 0.08 pct down at 7,230 pts.

to hold the market above 7200. Defensive stocks did well like FMCG, IT and few pharmaceutical stocks. International markets are also displaying similar type of trend. They are trading with minimal gains or losses on day to day basis. On the currency front it remained unchanged around 59 levels. It has made a low at 58.33 some two weeks back but due to an intervention of RBI it turned weak and closed at weekly highest levels which at 59.21. It will shape up after the announcement of the credit in the coming week. We are expecting surprises from the credit policy on the positive side even though the consensus is close to unchanged. For retailers our advice is to buy frontline index based stocks between the range of 7250 and 7150 with a medium to long term view. Sector specific: we like Pvt. Banks, Infra & Capital Goods and Metal stocks at each major supports.

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...