Market ends in green: IT up; Realty, midcaps down

19 March 2008

The markets closed in green with moderate gain after a gap up opening on the back of strong cues from Asia and the US. After the Fed cut discount rate by 75 bps markets across globe have rallied. Asia ended in green most with gains of over 1.5%-3%, there were no runaway rallies seen.

Europe was off the highs after UK based HBOS reported pound 227 million. 

Only frontliners closed in green but midcaps and smallcaps closed weak.Nifty breached 4600 mark but closed below the 4600 mark and Sensex slipped below 15000 levels.

On a weekly basis it was an very weak close for the markets with Sensex and Nifty down 5%. TMarkets witnesses second biggest single day fall this week. The broader markets lost nearly 10%. Bankex was down 10% followed by metal index down 8%.

Sensex closed up 161.37 points or 1.09% at 14994.83, and the Nifty up 40.95 points or 0.90% at 4573.95.

About 893 shares have advanced, 2088 shares declined, and 78 shares are unchanged.