Market back at 18,000 after 6 months

Our Bureau | | Updated on: Mar 12, 2018

sensex

With net FII inflows into Indian equities inching towards the $5-billion mark ($4.78 billion year-to-date) in 32 trading sessions in 2012, the Nifty added 2.14 per cent to its overnight close of 5416 and ended at 5532. The Sensex gained 1.98 per cent (354 points) to close at 18,202 after six months. It had dropped below the psychological level on August 4, 2011.

FIIs bought Rs 1,839 crore worth of equity in the net, while domestic institutions were net sellers for Rs 313 crore. Retail investors on the BSE were also net sellers of equity, offloading Rs 229 crore.

“Though valuations do not justify these levels, those with short positions who did not get to cover their positions at 5200 levels on the Nifty, will try to do so and this might push the Nifty further by another three to four per cent in the coming four to five trading sessions,” said Mr Kishor Ostwal, Chairman, CNI Research.

All indices on the NSE and BSE were in the green and the volatility index — India Vix — shed three per cent to close at 22.10.

“The stake sale announcement in ONGC and BHEL by the empowered group of ministers came as a positive surprise today,” said a dealer from an Indian brokerage.

The rally was powered by realty, capital goods, power, banks, auto and consumer durable scrips.

RPower, JP Associates, Tata Motors, Axis Bank and DLF were the top five Nifty gainers, while RIL, HUL, Cipla, Cairn and Sun Pharma were the top losers.

>ragavendrarao.k@thehindu.co.in

Published on February 15, 2012
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