23 March,2010 Closing Market Updates

23 March,2010 Closing Market Updates 15:32
Market opened today where it lasts yesterday.Nifty opened and immediately made high of 5243.6.But weakness in Telecom and Cement stocks pushed Nifty to its day low.Also traders booked profits on yesterday's gains with a cautious note just before the opening of European indices.Nifty touched an intraday low of 5193.40.But positive opening on European bources and positive statement about India's growth story helped index to close in positive.Nifty closed at 5223.60 gaining 18.3 points while Sensex gained 30.14 points to close at 17440.71(Post closing figures are different from closing figures).
Hon.Prime Minister Manmohan Singh said,"The government must spend $1 trillion on roads, ports, power and other infrastructure between 2012 and 2017 to help accelerate economic growth to 10% and cut poverty.The $1.2 trillion economy may accelerate 8.5% in the year starting April 1 as Asia's third-largest economy rebounds from the global recession."
Dr.Singh called for a partnership between the government and companies to build new roads, widen the railway network and increase power generation, pointing to the progress in the country's telecommunication business as a "compelling" example that such a proposition is "feasible."
Among BSE Sectoral Indices,Healthcare gained most by 1.51% whereas Realty ws down 0.74%
Among Nifty50 stocks,Cairn India gained most with 4.02% to close at 293.55 and Idea cellular lost by 3.70% to close at 65.15
Overall market breadth was mixed as 618 stocks gained and 661 stocks declined today on NSE.

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