Sep 08, 2010
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Indian Stock Market
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Indian Stock Market
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Indian Stock Market
Cement stock were among the highest gainers on speculation that companies might hike their prices, with construction activity set to pick after the monsoon season. Companies like Infosys Tech. And TCS closed positive after Dutch bank ABN Amro renews its contracts worth 1$ billion with TCS, Infosys and IBM. The upmove has mainly led gains in IT, metal, capital goods, oil & gas stocks while pharma, real estate and banks stocks witnessed profit booking.
Market breadth held a strong position at ~1.3x as investors bought small and mid cap stocks. FIIS sold stock worth `20.88Cr while domestic institutions bought equities worth `4.41bn.
According to reports the Asian markets are trading lower this morning. The Nikkei has already shed 2% and Yen has advanced to a new 15-year high extinguished upbeat mood which was gained from last week’s better- than- expected economic indicators. Even the revival of concerns over European banks and uncertainty due to political situation at home added to this loss. Hang Seng is also trading negative.
