Markets opened up strong, but the uptrend movement was disrupted. After opening up strong, markets slipped down the red zone. Major Indices remained volatile through the day. Markets witnessed some kind of consolidation. In the last 2 days the Major Indices have rallied almost 4%. Traders remained cautious in the trading day. Most of the heavyweights closed in green.
Global markets were trading in green in the early trades. Dow closed above 10000 marks for the first time since Oct 2008. Asian markets closed almost flat. Volumes in the markets were pretty good. NSE cash segment alone contributed Rs20000Cr.
Nifty closed at 5108 marginally down by 10 points or 0.18%, after making an intraday high of 5152 and low of 5077 levels. BSE closed at 17195, down by only 35 points. IT stocks remained under pressure as the Rupee appreciated to break the 46 level. Telecom stocks continued to be on the selling mode. Nifty took support at the trendline.