The benchmark Nifty index ended with a modest gain of 11.50 points, or 0.24%, at 4856.40 on Monday, 22 February 2010, failing to capitalize on the positive sentiment that prevailed across the other markets in the region. Concerns about the outcome of the Union budget, that is due for presentation on Friday, as well as expiry of F&O contracts for February series on Thursday, 25th February, prevailed over the market, dragging the indices from as high as 4912.05 to as low as 4845.90 before closing at 4856.40, during the trading session.
Among the sub-indices, the Bank Nifty managed to end in positive territory with a marginal gain of 0.07% or 6.25 points at 8,493.35, while the CNX Midcap index and the CNX Nifty junior index ended in negative territory. The CNX Midcap index shed 51.8 points, or 0.72%, to end at 7,160.45, while the CNX Nifty Junior Index ended below the 10,000-mark at 9,948.50, posting a loss of 66.25 points, or 0.66%.
TECHNICAL ANALYSIS OF NIFTY:
Nifty fails to hold above the psychological 4,900-mark for the fifth time since the beginning of February. It might be recalled that of the 16 trading sessions since 1st February 2010, Nifty surpassed 4,900 as many as seven times, but ended above 4,900 only twice - once on 3rd February and the other on 17th February.
Monday, 22 February 2010
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