The 30-share Sensex of the Bombay Stock Exchange (BSE) now seems determined to cross the 17k mark as it rose by 222.56 points from the day?s low of 16,676.98 to close the day at 16,899.54 points, just 100.46 points away from 17k level. The benchmark Sensex, after opening the day on a positive note at 16,890.75 points, touched a life high of 16,928.02 points, just 71.02 points away from the new milestone. However, profit booking in banking sector, auto and capital goods counters saw the Sensex coming lose steam and slide to an intra-day low of 16,676.98 points. Expectation of strong performance by cement and oil sector companies saw additional buying take place at the bottom and the Sensex regained strength and ended the day posting a gain of 53.71 points, or 0.32%, over the previous day’s close.
On the other hand, the broader S&P CNX Nifty of the National Stock Exchange (NSE) ended the day at 4,938.85 points, marginally up by 6.65 points or 0.13%. The combined traded turnover of both BSE and NSE including the derivative segment crossed the Rs 1 lakh crore figure, touching a figure of Rs 1,08,973.84 crore.
SP Tulsian, investment consultant, said, ?The market will be positive till the September derivative expiry and could probably touch the 17k level. However, at those higher levels it will be difficult for the market to sustain until and unless there are strong positive triggers like strong liquidity flow or impressive second quarter corporate results.??
