Stock Market Updates for Today (29th July '11)
Notwithstanding some hectic buying, first after an hour past the opening bell, and then during the penultimate hour of the session, the market ended the day on a negative note on Friday as investors mostly treaded a cautious path amid growing concerns about the global economy and fears about a likely slowdown in Indian economic growth due to sharp hike in lending rates.
There were some good results from India Inc., like the one reported by the banking sector heavyweight ICICI Bank. And there were some interesting stock specific developments as well. But the mood remained cautious almost right through and buying was quite selective during the day.
The Sensex, which rebounded to 18,334.27 after an early fall to around 18,132, dropped down into the red around mid morning, and after staying flat for close to three hours, rallied past 18,300 only to falter again and close in negative territory. The benchmark ended the day with a small loss of 12.32 points or 0.07% at 18,197.20.
The National Stock Exchange's Nifty index closed at 5482, recording a loss of 5.75 points or 0.1%. It touched a low of 5453.95 and a high of 5520.30 during the day.
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