It was a choppy session for the market that erased the morning gains and ended flat on account of profit booking. Sensex shut shop at 17185, up 15 points and Nifty at 5131, up 8 points from the previous close. CNX Midcap index was up 0.59% and BSE Smallcap index was up 0.92%. The market breadth was positive with advances at 747 against declines of 528 on the NSE. Top Nifty gainers included Cipla, Ranbaxy and Reliance Power while losers were Tata Motors, IDFC and Suzlon.
The Dubai crisis may have been a blip, but global recovery and excellent GDP numbers have been a good sentiment boost to our market, says Shahina Mukadam, market expert, on Zee Business. But valuations do look a little stretched and market will see profit booking at higher levels, she adds. Nifty is likely to consolidate around 4800-5200 levels for some time and see a convincing upmove only around March 2010, she adds.
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