Sunday, August 2, 2009

Stocks Opens Higher

Equity benchmarks opened higher Monday on the back of gains in auto and metal couters. However, FMCG and banking stocks edged lower. Shares of Suzlon took a beating in reaction to the company’s dismal performance in the first quarter of FY2009-10. Bombay Stock Exchange’s Sensex was trading at 15747, higher by 77 points while National Stock Exchange’s Nifty climbed 22 points to 4659.“The OI additions on Friday were the lowest (5 month low) for the first day of a new series, which is not so bullish. However, the fact that crude is back in action and Auto numbers for July were good, we should have a decent opening on Monday. While the Sensex is at a 13-month high, the Nifty is still struggling to close above the 4700 mark. The market's further progress is dependent on how early can the Nifty close above the 4700 mark. As long as it does not, keep your bullish instincts under a tight leash,” said Anagram Stock Broking.

For Further details Visit At:economictimes.indiatimes.com/Stock-open-higher-Suzlon-drops-on-poor-Q1/articleshow/4850757.cms

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