The Sensex could have kept its early gains but there was a lot of short covering. Market men were concerned about the huge positions in the F&O sector. Tata Steel and NTPC each had nearly three crore shares outstanding and it will be difficult to pull up the price of these shares.
It took nearly nine months since February 18 for the Sensex to cross 6000 and stay beyond 6000 and 83 days to move 1000 points from 5000. However, the sentiment was bullish after the Sensex moved confidently after three earlier tries. The banking, auto and chemical fertilizer stocks in the mid-cap segment made a lot of gains with UB gaining 435 and McDowell Rs 12.75. ICICI Bank was up Rs 15.35.
Among the scripts, Trent and Bharat Forge kept their upward move with Trent m ganang Rs 15.50 on the NSE and Bharat Forge up Rs 37. Other shares that did well were Infy up Rs 27.85, BPCL 14.35, Tata Tele Rs 17.75 and Sun Pharma 18.35.
|
