Volatility was the order of the day on the bourses on Thursday as it closed the day on flat note, shedding most of the day?s gains. The 30-share Sensex of the Bombay Stock Exchange (BSE) had opened on a firm note, mirroring the strong global markets to cross psychological level of 20K to hit a high of 20,064.31 points during early trade.The Sensex closed the day gaining 57.80 points or 0.29% to close at 19,795.87 points. The broader S&P CNX Nifty of the National Stock Exchange (NSE) closed at 5,954.70 points, up 14.70 points or 0.25%.
However, the Sensex lost it early gains and came off the higher level profit booking emerged in Reliance Industries and other index heavy weight stocks. Asian markets had also closed the day with gains. Indices in Hong Kong, Singapore Korea, and Japan were up by between 0.20% to 1.70%. However, China?s Shanghai Composite dipped by 0.15%.
?Profit booking during the second half of the day shed the days gains,? said Amitabh Chakraborty, president-equities, Religare Securities. He said, ?This kind of profit booking at every high level is very healthy for the market as every correction makes market ready for further upside?.
The robust trend resulted in very strong positive market breadth as 1,805 stocks advanced, as against stocks of 1,043 companies declined and 39 stocks remaining unchanged. However, BSE Mid-Cap index under performed the BSE Sensex and it fell 19.07 points or 0.21% to close at 9,033.76 points, indicating towards profit booking while the BSE Small-Cap index went up by 88.77 points or 0.79% to end the day at 11,360.73 points.
According to the provisional figures provided by the stock exchange, FIIs were net buyers to the tune of around Rs 492.10 crore on Thursday.
Even the turnover at the BSE was strong at Rs 9,762.59 crore on Thursday as against the turnover of Rs 9,410.33 crore on Wednesday.