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Sensex rises but unable to break 5850 levels
The market inched upwards during the week (ended Wednesday April 7) but failed
to break the 5850 levels. Despite institutional and retail activity continued
during the week. A technical correction around 5850 levels saw the markets crawling
backwards ending below 5800. International rating agencies looking at re-rating
India created a favourable impact on the sentiment.
In textile stocks, Reliance Industries gained over the previous week marginally.
While Lakshmi Machines hit a 52-week high of Rs 5244 during the week but closed
at Rs 4944. Raymond and Pantaloon Retail too featured among the gainers. The
sentiment currently has turned positive with the Sensex rebound. It is expected
that the market will remain strong with Q4 results pouring in and will continue
in a rangebound momentum between 5640 to 6000 levels with periods of volatility.
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