Markets trade on cautious note

By SiliconIndia   |   Monday, September 28, 2009
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New Delhi: Indian equities traded on a cautious note last week as anxious investors sought to book profits ahead of the quarterly results season. Uncertain global cues and concerns that inflation could return to haunt policy makers added to investor anxiety. This was a truncated week for the markets, which were closed Monday for Eid-ul-Fitr. The 30-share sensitive index (Sensex) ended 48.3 points, or 0.29 percent lower at 16,693 points Friday, as opposed to previous week's close at 16,741.3 points. The benchmark index rose and fell alternatively, starting Tuesday to lose out marginally at the week's closing. The broader S&P CNX Nifty of the National Stock Exchange (NSE) moved down about 0.3 percent from its last weekly close to end at 4,958.95 points. The trading week started Tuesday with the Sensex gaining 145 points or 0.87 percent to shut shop at 16,886.43 points. The Nifty too ended in the green at 5,020.2 points, up 0.89 percent. Markets fell Wednesday owing to heavy selling in blue chip stocks in the last 40 minutes of trade. Both Sensex and Nifty closed one percent lower. Thursday saw trading progress on a tepid note for most parts of the day. The Sensex ended at 16,781.43 points -- 61.93 points or 0.37 percent higher than Wednesday. The Nifty closed at 4,986.55 points, up 0.33 percent. Mid to small-sized company scrips helped steady broader market fluctuations Friday, even though the Sensex fell again, closing at 16,693 points, 88.43 points or 0.53 percent lower. Nifty ended trade at 4,958.95 points, down 0.55 percent. The top gainers in the Sensex were Ranbaxy Labs (up 16.7 percent), HDFC (up 7.3 percent), Maruti Suzuki (up 5 percent), HDFC Bank (up 4.8 percent) and Cipla (up 3.1 percent). The top losers in the Sensex were Hindalco (down 7.1 percent), Infosys (down 5.1 percent), Tata Steel (down 4.3 percent), Bharti Airtel (down 4.2 percent) and ICICI Bank (down 3.8 percent).
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