Sep 09, 2010
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National Stock Exchange of India
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National Stock Exchange of India
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National Stock Exchange of India
As Global stocks had rallied in fear of the European economy, Asian stocks outperformed global stocks for the second consecutive day today. The benchmark indices remained range bound for most part of the session until a spurt of buying took the index to an intraday high near the close.
At close, the Sensex stood at 18,645, up 85 points and the Nifty managed to hold on to the 5,600 mark with a 27 point gain. The broader markets were mixed. Small cap stocks rose 0.62 per cent. The CNX midcap index declined 0.06 per cent. Overall, 54 per cent stocks advanced on the BSE.
European markets were deep in the red. At 4 pm, the CAC 40 in France was down 1.23 per cent, Germany's DAX declined 0.74 per cent and the FTSE in Britain fell 0.94 per cent. The Wall Street, opening after an extended three day break, might fall in early trade. Trading in Dow futures suggest that the Dow might open 50 points lower.
Sarvendra Srivastava of Emkay Global said that "it is difficult to say if the markets have risen because of a short squeeze or on fresh buying".
