March 26th, 2009 
Aman It was the settlement day of March series as tomorrow is Gudi padwa and the markets had to close all the settlements today itself. There was a stunning performance from the benchmark indices today. The Sensex once again had touched the 10,000 mark. It took almost 50 sessions and it managed to close above the same level. Nifty as well tested the 3100 mark but in the course of the day it retreated from that level during the last 10 minutes of the trade. There was good buying from the foreign as well as domestic investors. Local mutual funds were also active in midcaps on NAV propping.
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Markets stayed positive as there was buying in infrastructure, metal, banking, technology, auto, FMCG and oil&gas sectors. It kept the mood positive throughout the day. Broader indices also followed the same trend but underperformed the benchmark indices. All sectoral indices ended higher barring Realty index. The Sensex has touched an intraday high of 10,061.36, before closing the day at 10,003.10, up 335.20 points or 3.47%. The 50-share NSE Nifty shut shop at 3082.25, up 3.28% or 97.90 points, after hitting a high of 3103.35. The last time both indices had touched respective marks on January 7, 2009.
The frontrunners include ONGC, Bharti Airtel, BHEL, TCS, L&T, Sterlite, Maruti and Tata Power which gained almost 6%, where as SBI, ITC, Infosys, Reliance Industries, NTPC, HDFC, HUL, ICICI Bank and HDFC Bank gained upto 4%. Due to F&O expiry, there was the highest turnover and markets reported turnover of more than Rs 90,000 crore for the third consecutive day. Total traded turnover stood at Rs 97,107.51 crore. This includes Rs 15,527.42 crore from NSE cash segment, Rs 76,957.01 crore from NSE F&O and the balance Rs 4,623.08 crore from BSE cash segment.
The wholesale price index (WPI) is very close to the 0% mark. Inflation for week ended March 14 came in at 0.27% — still in positive terrain — compared with 0.44% week on week (WoW). January 17 WPI inflation has been revised to 4.95% versus 5.64% provisionally. Everyone has very well-factored in a negative print in WPI and it is primarily on higher base last year. there will be lot more rate cuts going ahead. She forecasts another 50 basis points cut as far as reverse repo rate is concerned. But the Consumer Price Index still remains in double digit and that is something which hurts the common man.
European markets were trading marginally higher at the time of Indian closings. The FTSE was up 5 points, to 3,905. The CAC was up 8 points, to 2,901 and the DAX gained 15 points, to 4,238. US futures were also trading higher. The Dow Jones Futures was trading at 7,730, up 50 points and the Nasdaq Futures were up 14.5 points, to 1,248. Asian markets ended strong. Shanghai, Hang Seng and Straits Times gained 3-4%. Nikkei was up 1.84% and Kospi went up 1.2%. Taiwan moved up 0.75%.
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