1. As advised if Nifty sustains above 5100 mark one can call that the short and intermediate trends for the market has turned up now. Sensex closed at 17434, up 81 points and Nifty closed at 5157, up 42 points which is a healthy sign for the Indian stock market.
2. The CNX Midcap index rose by 2.5%, Sensex rose by 4% and Nifty rose by 3.3% on weekly closing basis.
3. BSE IT index and BSE Bankex index both rose by 5%,BSE Capital Goods index rose by 4.2% and BSE Healthcare index rose by 4%, BSE Smallcap index rose by 1.2% and BSE Metal index rose by 9.3%.
4. Market breadth was positive with 743 advances against 486 declines on the NSE which is again a healthy sign.
5. Shares which stole the lime light were SAIL, PNB and BPCL and the laggards were HCL Technologies, Siemens and HDFC.
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Stock market action for the day ended 16 May
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