Sensex ends up 440 pts; Moody mkt plays on investor nerves
07 Oct 2011
The market got truncated in the first week of October on a pessimistic note despite gains of close to 3% in trade today. Shocking ratings downgrade from Moody's, first on SBI, and then, 21 European banks spooked the financial sector across the globe. Bank Nifty recorded fresh 52-week lows this week, and there is still more downside in the near term.
The traders on Dalal Street will not be too rejoiced going into the weekend by today's pullback since Nifty is trading perilously close to its 52-week low of 4720.
The Sensex shut shop at 16232.54 up 440.13 points or 2.79% and the Nifty closed at 4888.05 up 136.75 points or 2.88%.
The breadth of the market was encouraging for bulls. About 1848 shares advanced, 985 shares declined, and 880 shares remain unchanged.
Top gainers on the Sensex were Sterlite Ind at Rs 113.45 up 8.56%, Jindal Steel at Rs 481.95 up 8.22%, Tata Motors at Rs 158.80 up 7.73%, ICICI Bank at Rs 824.30 up 5.82% and DLF at Rs 218.45 up 5.81%.
Top losers on the Sensex were Bharti Airtel at Rs 354.80 down 3.34% and Hero Motocorp at Rs 1,941.05 down 0.26%.