The Nifty in India is testing the 5500 mark, the index touched high of 5504 in the intra-day trades but soon slipped from the high level. The S&P CNX Nifty was higher by 12 points at 5493 and the Sensex was higher by 43 points at 18,317.
Last week’s report that Deutsche Börse, a giant German exchange, intends to buy the New York Stock Exchange, creating a company worth some $24 billion, arrived shortly after the Dow broke the 12,000-point barrier for the first time since before the financial crisis.
In the broader markets, the midcaps was up 0.4% and the smallcaps gained 0.2% as compared to the Sensex, up 0.4%. Among the sectoral charts, Realty started the day on the positive note with a gain of 1% followed by IT, FMCG and Metal. On the other hand, Health Care was the only sector that opened in the negative, down 0.5%
U.S. stocks started February this year with a bang on Tuesday, with the Dow and S&P 500 closing above key psychological levels for the first time in more than two years. Plus, the Nasdaq also gained almost 2%.
The year 2011 will be a range-bound year for the Indian stock market , with close to zero per cent returns which will see the year end on a weak note, according to Bank of America Merrill Lynch.
