Markets end in green on last day of March series
Updated: Mar 28, 2013 04:42:06pm
New Delhi, Mar 28 (KNN) The BSE Sensex closed at 18,865.36, up 160.83 points or 0.86 per cent. The Nifty too saw a pull back on the last day of the March series ending at 5,689.20, up 47.60 points or 0.84 per cent.
Today’s rally has come about in the backdrop of the Indian market being in an oversold position. Thus it is being perceived as technical in nature.
While the Sensex touched a high of 18,874.17 and a low of 18,568.43, the Nifty touched a high of 5,692.95 and a low of 5,604.85 during today’s trading session.
The BSE Midcap Index was up 1.51 per cent, the BSE Smallcap Index gained 1.38 per cent.
Meanwhile, the European shares edged up today, recovering from a three-week low hit in the previous session as bargain hunters picked up beaten-down stocks on the last trading day of the quarter.
However, worries over the impact of a bailout of Cyprus, including fears of a run on the island’s banks were expected to cap gains and weigh on equity markets in the second quarter.
In the Asian markets, Hong Kong stocks fell 0.74 per cent today amid growing concerns about the Eurozone. In the mainland however, banks were hit by fresh moves to tighten up regulations and cut risk. The benchmark Hang Seng Index lost 165.19 points to 22,299.63.
On Tuesday, US stocks surged higher as favourable sentiment towards equities more than compensated for a mixed bag of economic indicators.
The Dow set a new record while the S&P 500 narrowly missed, coming within 2 points of its October 2007 all-time high. The Dow Jones Industrial Average jumped 111.90 (0.77 per cent) to 14,559.65, breaking the previous mark of March 14.
The tech-heavy Nasdaq Composite Index also rose 17.18 (0.53 per cent) to 3,252.48.
Britain's top shares traded flat today, kept cautious by concerns about a potential run on Cyprus's banks. The FTSE 100 was off 0.23 of a point at 6,387.33 by 0924 GMT, pegged back by weaker mining stocks, sensitive to nervousness in the market. (KNN)
Today’s rally has come about in the backdrop of the Indian market being in an oversold position. Thus it is being perceived as technical in nature.
While the Sensex touched a high of 18,874.17 and a low of 18,568.43, the Nifty touched a high of 5,692.95 and a low of 5,604.85 during today’s trading session.
The BSE Midcap Index was up 1.51 per cent, the BSE Smallcap Index gained 1.38 per cent.
Meanwhile, the European shares edged up today, recovering from a three-week low hit in the previous session as bargain hunters picked up beaten-down stocks on the last trading day of the quarter.
However, worries over the impact of a bailout of Cyprus, including fears of a run on the island’s banks were expected to cap gains and weigh on equity markets in the second quarter.
In the Asian markets, Hong Kong stocks fell 0.74 per cent today amid growing concerns about the Eurozone. In the mainland however, banks were hit by fresh moves to tighten up regulations and cut risk. The benchmark Hang Seng Index lost 165.19 points to 22,299.63.
On Tuesday, US stocks surged higher as favourable sentiment towards equities more than compensated for a mixed bag of economic indicators.
The Dow set a new record while the S&P 500 narrowly missed, coming within 2 points of its October 2007 all-time high. The Dow Jones Industrial Average jumped 111.90 (0.77 per cent) to 14,559.65, breaking the previous mark of March 14.
The tech-heavy Nasdaq Composite Index also rose 17.18 (0.53 per cent) to 3,252.48.
Britain's top shares traded flat today, kept cautious by concerns about a potential run on Cyprus's banks. The FTSE 100 was off 0.23 of a point at 6,387.33 by 0924 GMT, pegged back by weaker mining stocks, sensitive to nervousness in the market. (KNN)
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