Nifty ends flat; RIL, Axis Bank plunge, SBI, Sterlite surge
25 Apr 2011
Indian equity benchmarks closed first session of a week on flat note after trading in a narrow range. In fact it was a consolidation day after a long weekend and the Nifty traded in a narrow range of 5875-5900.
Rahul Mohindar of viratechindia.com is bullish on the market with short term perspective. "Earnings are still good. The Nifty is above the 5830 critical level. I continue to believe that probably over the next few days hitting 6,000 is quite a possibility. We would have pretty good price action on the upside in sectors like banking, cement etc. One could even see some interesting midcap players coming in. So I am still pretty bullish in point on the market with the short-term perspective."
Fall in oil & gas, private banking, realty, telecom and Anil Dhirubhai Ambani group (ADAG) companies' shares offset by gains in technology, capital goods and PSU banks' stocks.
The 30-share BSE Sensex fell 18 points, to close at 19,584 and the 50-share NSE Nifty declined 10 points, to settle at 5,874.