Business Daily from THE HINDU group of publications
Thursday, Nov 01, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Nov 01, 2007 ePaper | Mobile/PDA Version |
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Stock Markets Markets - Stock Markets Our Bureau Mumbai, Oct. 31 After Tuesday’s dip, the benchmark Sensex ended slightly in the green with a gain of 54 points on Wednesday. The S&P CNX Nifty gained 0.54 per cent, closing at 5,900.65. Profit booking“There was a lot of profit booking on the Sensex stocks as investors felt these stocks had reached their heights,” said Mr Pritesh U. Jani, Equity Research Associate at Keynote Capital Ltd. Also, people did not want to wait till the US Fed meeting announcements; they wanted to book profits while they still could, he added. The funds taken out were put into other stocks, said brokers. OutperformersAs a result, the mid-cap and small-cap stocks were rather in the limelight, their indices actually outperforming the benchmark index, rising 1.08 and 1.58 per cent respectively. “People are looking at these stocks now as they feel that the frontline stocks have become over-extended,” reasoned Mr Vijay L. Bhambwani, CEO, BSPL India. Many analysts shared this sentiment, saying the investor would want to pitch himself in a safe position ahead of whatever US Fed announcement was in store. The BSE Capital Goods, FMCG, Metal, Realty and Teck indices ended the day in the red. FIIs and DIIs were net buyers for Rs 198.74 crore and Rs 444.25 crore respectively. More Stories on : Stock Markets | Stock Markets
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