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Reliance Market Lens_20th June 2012

Posted by sandhyaravii on June 20, 2012

Domestic Equity Outlook – Shifting hopes onto
global monetary stimulus now…
In what could be called a reasonably volatile day of trade, the Sensex
swung wildly in a near 200 points range intra-day yesterday, to finally
end the session higher by just under 1%. The Nifty too displayed a similar
pattern. The action was largely concentrated in the large-caps as the
mid-cap and the small-cap indices ended almost flat. The
advance-decline ratio was even on the BSE with the combined traded
turnover on both the exchanges at over Rs2 lakh crore owing to the
volatility. Sectorally, the Oil & Gas stocks witnessed considerable positive
action with most of the oil stocks gaining between 2-6%. The oil marketing
companies were in particular favour on hopes of partial deregulation in
diesel prices soon. Notably, yesterday’s market performance was despite
continued weakness of the Rupee against the USD as the former slid
below the Rs56 mark, but managing a close at…

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