Sensex Today : Sensex down 42 amid Volatility

Sensex gets slimmer , sheds 42 points

Yes, the sensex behaved the way we have discussed yesterday. The day was marked with immense volatility. This trend will continue tomorrow and we will see swings between the bears and the bulls. Traders should be cautious and small investors should stay away from trading at such junctures. Stock picking at lower levels may continue.

Attractions of the day

The two IPO's listed in line with Investment Guru's expectation. Sobha Developers started with the fireworks to list above 1000 levels and finally settled at 925. The stock is trying to move in tandem with Parsvanath Developers and may find support at 850-875 levels.

Ruchira disappointed on listing. The stock though quoted a high of Rs.24 slipped away to discount and could not recover from the lows.

Tech Mahindra touched its all time high amid talks of company bidding for UK operations of Tiscali.

Gitanjali Gems was also in the first half with news that it has acquired a majority ownership interest in Samuels Jewelers Inc. which operates 97 retail jewelry stores in 18 states throughout the United States. However, the euphoria died down with stock finally settling at Rs.220