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This is an archive article published on February 15, 2011

Market over-runs initial hiccups

Amid extreme volatility and choppiness,the bourses managed to maintain the uptrend.

Amid extreme volatility and choppiness,the bourses managed to maintain the uptrend and ended in positive terrain for the third day as the benchmark S&P CNX Nifty gained by 25 points at the National Stock Exchange (NSE).

The 50-share index swung wildly between 5,506.50 and 5,408.35 before closing at 5,481.00,up 25.00 points,or 0.46 per cent,over its previous close.

The market commenced on a better note but the initial gains could not be sustained with traders resorting to profit-booking on the back of sharp overnight rally.

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The market gradually started moving up during mid-afternoon trade with buying in heavy-weights,bank and auto counters taking the key-index to the day’s highest point before witnessing some-more profit-booking in IT,FMCG,capital goods,realty and metal counters reducing the gains.

Reliance Capital,Rcom,PNB,Kotak Bank,Reliance,Tata Motors,Tata Power,RPower,Bajaj Auto and ICICI Bank topped the gainers list from Nifty.

However,JP Associates,DLF,Hindalco,BHEL,L&T,M&M,Cairn,Suzlon,TCS and Cipla were registered losses.

Total turnover in the cash segment rose to Rs 13,488.35 crore from Rs 12,898.44 crore yesterday. A total of 7,485.12 lakh shares changed hands in 67,21,332 trades. The market capitalisation stood at Rs 63,63,977 crore.

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