Sensex ends flat; Suzlon, HCL Tech, Sterlite Inds surge
02 Sep 2010
The Sensex ended on a flat note after gap up opening of 100 points. It was a volatile session for the markets as Nifty struggled to past 5500 mark in the entire session. The broader markets continued to outperform the Sensex.
The Sensex was up 32.44 points or 0.18% at 18238.31. It has touched an intraday high of 18,355.84 and an intraday low of 18,215.28.
The Nifty was up 14.30 points or 0.26% at 5486.15.It has touched an intraday high of 5,513.95 and an intraday low of 5,471.85.
The market breadth was positive, about 1917 shares have advanced, 1142 shares declined, and 324 shares are unchanged.
CK Narayan of Sharyans Resources says, ''Historically, the markets don't make lows in the month of September. The volatility is likely to continue and thus breaking below 5,350 may not happen this month. However, the Nifty breaking out on the higher side too looks difficult.''
Gautam Shah, JM Financial says, "The next leg of the downtrend should see much more bearish momentum leading to substantial damage. 5,350 is the widely followed support and hence some playing around this point is likely before it is broken.