Markets: Southbound - Views on News from Equitymaster

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Markets: Southbound

Jun 5, 2001

The markets were lifeless for most of the day. The players seemed to be looking for a direction. Bargain hunters jumped at stocks, which had reached attractive valuations. However, selling pressure dominated and caused the markets to dip. HLL was the largest contributor to the group that caused the Sensex to dip. The stock shaved 11 points of the index. ITC was another stock from the FMCG sector that figured in the list. ITC removed 5 points. Redemption pressures might have caused domestic institutions to sell counters like MTNL and BHEL that together removed 11 points. Reliance Petro too figured in the list. It contributed 5 points to the plunge.

Infosys that had lost heavily yesterday found favour with bargain hunters. The stock was the top traded scrip for the day giving a push of 14 points to the index. Bajaj Auto continued to gain adding 2 points to the index. Nestle added 1 point. The cement sector found favour with the markets today. Two stocks from the sector Guj Ambuja and L&T together added half a point to the index.

To find out an estimate of the contribution each of these stocks made to the gain in the Sensex, check out our Sensitivity Analyser.

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