BackSensex ends 31 pts higher, breaks 14K mark during trading
Sensex ends 31 pts higher, breaks 14K mark during trading
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Mumbai : The stock market today turned volatile as investors began rollover process and ended 31 points higher after breaching 14,000 level for the first time in two months.
The market witnessed profit-booking after crossing 14,000 mark this morning ahead of the end of April series and announcement of Annual Monetary Policy by Reserve Bank of India on 24 April.
Operators and retail investors as well as foreign funds were also believed to be gradually rolling over to May series.
Sensex touched the intra-day high of 14,046.52 at the outset but later came under pressure and ended the day at 13,928.33, a net rise of 30.92 points or 0.22% over close of 13,897.41 on 20 April.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) ended marginally up by 1.55 points or 0.04% to close at 4,085.10 from previous close of 4,083.55.
The markets seemed fundamentally strong on the back of announcements of robust Q4 earnings by a few major corporates with others like Reliance Industries, Bharti Airtel and Maruti Udyog slated to release their results during the week.
Global strength including firmness in emerging markets also provide underlying support to Indian bourses while the technicals at 14,000 level indicated resistance.
The Reserve Bank of India (RBI) is scheduled to release annual monetary policy on tomorrow, which may be not be positive as inflation is well above the comfort zone at 6.09% for the first week of this fiscal.
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