Nifty ends above 3K led by cap goods, metal, telecom, IT

31 March 2009

The markets bounced back, after steep fall on Monday and closed the session on a positive note. The markets were volatile throughout the session. The Nifty tested the 3050 level during the day while the Sensex touched the 9800 level. Today's pull back was largely on the back of year end NAV propping. Domestic funds were largely active in midcap stocks.

Buying was seen in capital goods, telecom, technology, metal, auto and banking stocks. Broader indices' stocks witnessed buying interest from domestic funds, which kept market breadth on the positive side.

The 50-share NSE Nifty closed the day above 3000 mark and went up 1.44% or 42.80 points, to 3020.95, after hitting a day's high of 3054.30. The 30-share BSE Sensex has hit an intraday high of 9,826.22, before ending at 9,708.50, up 140.36 points or 1.47%.

Among the broader indices, the BSE Midcap Index was up 2.27% or 65.64 points, to settle at 2,956.23 and the Small Cap Index shut shop at 3,246.63, up 1.46% or 46.58 points.

Global cues were positive. At the time of closing of Indian equities, European markets were trading sharply higher as the UK consumer confidence index was the highest since last May and some buying was seen in retail oriented stocks. The FTSE was up 89 points, to 3,852. The CAC was trading at 2,752, up 33 points and the DAX was trading at 4,020, up 31 points.

The US futures were witnessing some buying interest, after Monday's sharp sell-off. The Dow Jones Futures were up 50 points, to 7,530 and the Nasdaq Futures were trading at 1,231, up 8.25 points.