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See-Saw Trading

This week saw the major indices move up and down. But even on days when the bulls called the shots, trading was very volatile

After the previous Friday's inflation led sell off, the bulls bounced back on Monday morning. The banking, FMCG and Metal stocks were in demand. Mid-cap and the small-cap stocks attracted some buying. Among the BSE sectoral indices, BSE Bankex, BSE FMCG, BSE Metal, BSE Oil & Gas and BSE Pharma were up. Fertilizers stocks were in demand as reports stated that the Union fertilizers and chemical minister wants fertilizer subsidy to treble.

On Tuesday, the market ended with modest losses on back weak cues from the equity markets across the globe. There was selling pressure in index heavyweights like L&T, RIL, Infosys and Tata Steel. A flat start was followed by a gradual fall throughout the session. Finally, the Sensex and Nifty closed lower. U.S. markets slid and after the close of trade, former Fed chief Alan Greenspan said the U.S. is in the throes of a recession.

Despite a volatile and see-saw trading session on Wednesday, the market ended with healthy gains. After hitting an intra-day low of 15,464, markets gained momentum towards the end of the trading session on back of buying momentum in the index heavyweights like RIL, ICICI Bank, BHEL and Tata Steel.

Another volatile session ended with modest losses on Thursday. Players preferred booking profits at higher levels. Further, weak global cues proved to be another sentiment dampener for Indian markets. Oil & Gas and metal stocks were among the major gainers. The capital goods and select power stocks also attracted some buying. Also the small-cap stocks managed hold on to their gains. However, on the other hand, banking and realty stocks were offloaded.

Finally, the bulls had the final say on Friday. Despite bad news on the inflation front, the major indices and mid and small-cap indices ended in the green. Energy, realty, capital goods and select metal stocks closed at higher levels.

Vital Stats: April 7-11, 2008
  Sensex  Nifty  BSE Mid Cap  CNX Midcap
Mon 15757.08 4761.20 6344.72 6202.25
Tue 15587.62 4709.65 6383.02 6253.20
Wed 15790.51 4747.05 6471.51 6330.65
Thu 15695.10 4733.00 6478.96 6338.70
Fri 15807.64 4777.80 6523.22 6384.90
Net Buying (Equity)
  FII  MF    
Mon 376.70 -39.90  
Tue 148.70 89.90  
Wed -172.20 214.40  
Thu -314.80 316.70  
Figures in Rs/crore
  BSE Turnover  BSE Shares  NSE Turnover  NSE Shares
Mon 4969.92 2903.00 12026.36 4971.97
Tue 5145.99 2565.00 12340.19 4566.02
Wed 5331.37 3015.00 11530.17 4840.39
Thu 5519.49 3170.00 12539.14 5112.27
Fri 5586.86 2978.00 11815.36 4325.07
Number of shares in lakh. Turnover in Rs/crore.