Strong fluctuations in share market

The stock market witnessed high volatility on July 15. The markets surged in the morning, In the afternoon booking of profits was strong. The market, which at one point crashed to a level worse than on July 14, ended trade without much gain.
The Sensex rose 18 points during the day. Sensex ended trading at 36,051 points. Sensex, which had gone up till 36,819.25, during trade hours had crashed to about 1,000 points.
Nifty rose 10 points. At one point Nifty rose to 10,827.45 points but in the afternoon Nifty crashed to 10,577.75 points. The trend seen now is that Nifty can’t break the pressure point of 10,800.
It was the information technology shares that propped up the market on July 15. Wipro’s shares rose 17%. This was the highest gain that Wipro shares have reached on a single day after May 2004. The surge can be credited to the declaration of first quarter profits. The company posted an increase in consolidated profit to Rs 2,390.4 crore. This had led to the gaining if other IT stocks as well. Nifty IT index rose 5.48%
Wipro, Infosys, TCS, HCL Tech and Tech Mahindra were the Nifty stocks to register a high gain. Infosys shares rose 6.47%
Twenty-eight of the 50 Index Nifty gained on the day.
Reliance Industries, Bharati Airtel, Zee Limited, Gail and Infratel were those who registered the highest loss in the Nifty. Reliance Industries faced 3.89% crash.
The share of the company rose to Rs.1,978.80 in the morning, but in the afternoon it crashed to Rs.1,798.00 Bharati Airtel also crashed by 3.62%.
Energy shares faced strong selling pressure. Nifty Energy Index lost 1.91%. At the same time pharma shares registered gains.