The Asian markets opened strong but closed weak. The European markets were trading in the positive. But it was a very volatile day on the Indian market with big intra-day swings. Sensex closed at 19966, up 170 points and Nifty at 5974, up 19 points from the previous close. The BSE Midcaps and BSE Smallcaps Index both closed in the negative. The BSE IT Index was up 3.5% and BSE Technology Index and BSE Bankex Index were both up 2%. The market breadth was negative with advances at 543 against declines of 672 on the NSE. The NSE gainers included Infosys, HDFC, ICICI Bank, TCS and HCL Technologies while losers included Hindustan Petroleum, Hindalco, ITC, SAIL and BHEL.

It is natural for the market to see volatility with Nifty trying to cross 6000 and Sensex 20000, says Vineet Birla of Pranav Securities, on NDTV Profit. Next week, the market could see a breakout after the US Federal rate cut and the Sensex could touch 21000 and Nifty 6200.