Markets today opened on a weak note on the cue of weak global economy. But the markets slowly gained an upward movement in the second part of the day with IT stocks leading all the major indices to a positive note.
Sensex ended up 87 points at 17509 and Nifty up 23 points at 5233. CNX Midcap index rose 0.7% and BSE Smallcap index rose 0.9%. Top Nifty gainers were ACC, TCS and Ambuja Cements while losers were Sterlite Industries, Mahindra & Mahindra and Axis Bank.
VK Sharma, Head-Private Broking & Wealth, HDFC Securities said, “We might see rangebound movement between 5150-5300. Technology stocks which supported the market are expected to lead from the front. One should hold positions unless we breach the 5150 support”.
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