Sensex Gains Marginal Ground As Punters Cover Up On Nse

Brokers described the present behaviour as dull and said that there was no fresh inflow of funds into the capital market due to political uncertainty, liquidity crunch, slowdown in economy and slow growth in exports. The confidence of general investors was shaken because of the erosion in their portfolios. The stock markets have become institutionalised with FIIs dominating. Though they have been injecting fresh funds, their investments have slowed down. Most of the business put through were squaring-up in nature as yesterday was the last trading day of current settlement on NSE. The credit policy and developments on the political front will decide the future fate of the market.

 

The bourse witnessed a turnover of Rs 358.41 crore during the day with A group shares contributing Rs 299.97 crore and B1 and B2 group stocks chipping in Rs 40.68 crore and 17.57 crore, respectively.

According to BSE brokers, the market is passing through a phase of anxiety and too much is expected from the busy season credit policy.

Commented a leading BSE broker: The market is passing through a dull phase and we expect a cut in the CRR of about 0.5 to 1 percentage point which should infuse some liquidity in the system. Fresh money will come into the market only when FIIs make fresh allocations to the big emerging markets at the beginning of the next year.

The SBI stock, as usual, continued to dominate activity, witnessing trading in 51.40 lakh shares worth Rs 107.06 crore. The stock opened at Rs 207, touched an intra-day high of Rs 212 and a low of Rs 206 and closed at Rs 211.

There was selective buying in stocks like Bajaj Auto and Bombay Dyeing. The Bajaj Auto stock opened at Rs 918.50, touched an intra-day high of Rs 948.75 and a low of Rs 918 and closed at Rs 940.25. This is a net gain of Rs 12.75 over the previous close of Rs 927.25.