indian-bears-rule-the-roost

Indian bears rule the roost

India's Sensex goes up briefly in morning trading but selling pressure sees it end weak around 10,500; further fall expected this week.
May 24, 2006
IndiaÆs stock market witnessed another day of ups and downs yesterday May 24. The Sensex opened strong rising 1% to 10,938 following gains in Japan, South Korea and Taiwan. In the morningÆs trading ICICI Bank gained 6% and Bharti Tele-ventures gained 4%. Cement, metal, banking and pharmaceuticals all saw bullish sentiment. However, celebrations were premature as profit-taking followed. Although the movements were nothing like as dramatic as those which had caused regulators to suspend trading on Monday the Sensex closed weak again around 10,500 levels. Market participants interviewed for this article were predicting a difficult day today May 25. This was on account of it being the date for expiry of the May...
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