Market goes green on Wednesday after flat Tuesday

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The markets opened up on a reasonable note today with a gain of 2 per cent. While the Sensex earned 202 points to go at 9273 in the early session of Wednesday, Nifty too gained up 51 points from the previous close and started the day at 2796.

According to market analysts, government’s swift move on the Satyam saga and putting Deepak Parikh in the picture is a positive signal to the market.

Tuesday, the Asian markets closed mixed while Europe was trading weak. Poor global cues saw the Indian market close flat and hence masking choppiness with selling pressure from select midcap stocks. The thirty-share Sensex shut shop at 9071, down 38 points while the fifty-share Nifty ended the day at 2744, down 28 points from Monday’s close.

Post good Infosys results and guidance BSE IT index was up 5 per cent. CNX Midcap index was down 1.10 per cent and BSE Smallcap index dipped 1.51 per cent. The market breadth stayed negative with advances at 363 against declines of 819 on the NSE.

While the top Nifty gainers included Infosys, Wipro and Ranbaxy, the top losers were Siemens, Cairn and RCom.

— Shailesh Shah

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