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Market recovers : Jaiprakash rises, KFA falls

, March 7, 2012, 0 Comments

Mumbai, March 07, 2012 : In a highly volatile session NIFTY has managed to recover from important support zone of 5180-5170 and closed marginally low at 5220.45 down 1.95 points. Shares of Jaiprakash Associates [stockquote]JPASSOCIAT[/stockquote] has been star performer in today’s weak market, Reliance Power [stockquote]RPOWER [/stockquote] is another stock able to move higher by 6%.

Oil heavyweight Reliance Industries Ltd [stockquote]RELIANCE [/stockquote] was under selling pressure it fell 1.5% to 761 levels and troubled airliner Kingfisher Airlines [stockquote]KFA[/stockquote] was trading 7% down to 21.

From mid-cap universe stocks such as Polaris Software[stockquote]POLARIS[/stockquote], Raymond [stockquote]RAYMOND[/stockquote]and Havells India[stockquote]HAVELLS[/stockquote] were smart gainers up by 4-9%. Trades are not willing to carry forward position in truncated week before budget and monetary policy meet next week. Market will remain close tomorrow on account of Holi. Next week RBI  meet is on March 15 followed by Union Budget on March 16.