Stock Market Diary

1. Indian stock market was in grip of volatility due to poor global cues, dampened sentiments and thus it was a sluggish day.

2. Sensex closed at 17349, down 385 points and Nifty at 5110, down 81 points from the previous close.

3. The CNX Midcaps Index was down 1.2% and BSE Smallcaps Index was down 1%.

4. The market breadth was negative with advances at 356 against declines of 858 on the NSE.

5. Top Nifty gainers included Cipla, Nalco, Hindalco and Tata Power while losers included Bajaj Auto, HDFC Bank, ICICI Bank and Satyam.

6. All those on look out in banking sector can go for SBI, ICICI Bank, HDFC Bank and Kotak Mahindra Bank which are likely to give returns in a medium time frame. ICICI bank has a target of 1500 in an year time frame.