Wednesday, 22 April 2015

Closing Summary, Market Synopsis: 22 nd April, 2015

Markets snap five-day losing streak; Nifty ends above 8,400: Benchmark indices snapped five-day losing streak led by gains in engineering major L&T and renewed buying interest in Hindustan Unilever and financial shares amid volatility on below normal monsoon rain forecast. The 30-share Sensex ended up 214 points at 27,890 and the 50-share Nifty closed up 52 points at 8,430. Markets opened higher and remained range bound during the first half of the trading session only to fall sharply in late noon trades spooked by a weak monsoon forecast. However, a sharp rebound in late trades led by financials lifted the Nifty above the 8,400 mark.
The market participants would closely watch the proceedings in parliament during the final part of the ongoing Budget session which began on Monday as the government hopes to pass the Goods and Services Tax (GST) and the Land Acquisition Bill.

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