The Intraday market opened on a flat note but in red
trajectory. The Sensex ended down 16.81 points at 24217.34, and the Nifty was
down 5.70 points at 7229.95. About 1561 shares have advanced, 1406 shares
declined, and 131 shares are unchanged. HUL was up 7 percent, followed by NTPC,
M&M, Sun Pharma and Tata Power. Among the gainers are SBI, HDFC twins, Tata
Motors and Maruti Suzuki.
Most of the election rally gains have already
been made and the Indian Intraday markets are quite likely to see profit-taking
at these levels, feels Jan Dehn of Ashmore Investment Management. With the
markets trading at all-time high levels and most FIIs thinking it to be
“overvalued”, Dehn feels even at these levels, “stocks are still quite cheap”.
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