Sensex closes 152 points up on expiry
30 June 2011
Indian equity benchmarks closed the June series on a positive note by snapping losing streak seen in previous two series. Overall it was a consolidation day with a positive bias though market spiked up in the last half an hour of trade. But the volume was quite low compared to previous months' series.
More importantly, the 50-share NSE Nifty closed this series above the 5600-mark, by adding more than 300 points in last eight sessions. The index went up 46.95 points, to close at 5,647.40 on Thursday.
The 30-share BSE Sensex surged nearly 1300 points in last six sessions.
Uday Kotak, VC and MD of Kotak Mahindra Bank says the Sensex could remain in a range of 17,000-20,000 for the year. "I expect global economies to remain sluggish over the next 12-18 months," he says adding, "… a sluggish world is good for India because it will keep the global commodity prices little bit under the check."
Nifty hits 5650 amid choppy trade; banks, FMCG lead
The benchmark Nifty has touched 5650 level amid a choppy trade, supported by Reliance Industries, SBI, NTPC, HUL, HDFC, Infosys and ITC.