The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) slipped from its opening peaks to trade at 19,115.28 after shedding 202.88 points (1.05%) as against its last closure at 19,318.16.
In contrast, the broad-based Nifty stood at 5,736.1 after declining 1.1%.
The BSE midcap and smallcap index dropped 4.29% and 4.77% respectively.
At 11:54 a. m., the Sensex turned back from day's low owing to buying at lower levels as it
seemed oversold.
The stock index retrieved over 200 points from its day's low of 18,954.82.
Even the Nifty index managed to regain 5700 mark.
Anil Manghnani of Modern Shares & Stock Brokers stated that the bourses are at a serious stage at this time with 5,720-5,745 now being the vital support zone.
"As long as we stay somewhere above 5,700 mark, I am still hopeful of another rally coming into maybe last part of December or early January," he added.
Some short covering in scrips, which hit the most and regular buying in TCS, SBI, SAIL, L&T and Infosys were assisting the stock markets for recovery.
But, the selling activity continued in scrips from real estate, infrastructure, automobile, telecommunication, metal (barring SAIL) and oil & gas
No comments:
Post a Comment