Sun TV - Buy
Saturday, May 28, 2011
The market staged a rebound from 12-week low as world stocks recovered. Volatility was high as traders rolled over positions in the derivatives segment from the near-month May 2011 series to June 2011 series. The May 2011 derivatives contracts expired on Thursday, 26 May 2011.
The Sensex declined lost 59.99 points or 0.33% to settle at 18,266.10 in the week ended Friday, 27 May 2011. The Nifty shed 10.25 points or 0.18% to 5,476.10. The BSE Mid-Cap index shed 0.39% and the BSE Small-Cap index shed 0.92%. Both these indices underperformed the Sensex.
The key benchmark indices extended gains for the second straight day to hit one-week highs buoyed by firm global stocks. The BSE Sensex was up 221.46 points or 1.23%, up close to 180 points from the day's low and off close to 35 points from the day's high. The market breadth was strong. Index heavyweight Reliance Industries (RIL) edged higher. Banking and realty stocks gained for the second straight day on
bargain hunting after recent steep slide.