makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 07.06.2010 MONDAY

Monday, June 7, 2010

MARKET ENDED 07.06.2010 MONDAY

WERE TODAYS GAINERS

MARKET ENDED 07.06.2010 MONDAY

SENSEX 16781.07 -336.62

NIFTY 5034.00 -101.50

NASDAQ 2219.17 -83.86

DJIA 9931.97 -323.31

RS/$ 46.67 -00.15

Indices ended sharply lower on Monday as bearish news from global markets hurt sentiments. All the sectoral indices were in the red with metals, realty and oil&gas worst hit. Market opened with a gap-down on concerns of unemployment data in the US and reports of debt crisis in Hungary.
However, the benchmarks didn’t breach important psychological support levels giving some respite to the bulls. According to analysts, the markets are likely to turn volatile in coming months due to uncertainty in Europe’s economic condition.
Bombay Stock Exchange’s Sensex ended at 16,781.07, down 336.62 points or 1.97 per cent. The index hit intraday low of 16686.73 and high of 17069.77.
National Stock Exchange’s Nifty closed at 5034, down 101.50 points or 1.98 per cent. The index hit intraday low of 5004.25 and high of 5132.95 in today’s trade.
BSE Midcap Index fell 1.37 per cent and BSE Smallcap Index moved 1.45 per cent lower.
Amongst the sectoral indices, BSE Metal Index was down 3.99 per cent, BSE Realty Index declined 3.89 per cent and BSE Oil&gas Index slipped 1.92 per cent.
DLF (-6.19%), Hindalco Industries (-5.07%), Tata Steel (-4.59%), Tata Motors (-4.25%) and Sterlite Industries (-4.24%) were the top Sensex losers.
Reliance Communications (4.61%), ACC (1.06%) and Hero Honda (0.02%) were the only gainers.
The Reliance Communications board gave its approval to divestment of 26% in the company to a strategic or private equity investor and exploring merger and acquisition opportunities, the company said in a statement on Sunday.
Shares of oil&gas companies were reacting ahead of empowered group of ministers (EGoM) meeting to discuss deregulation of petrol, diesel and LPG prices recommended by Kirit Parikh Committee.
Market breadth was negative on the BSE with 1909 declines against 869 advances.
The European markets managed to limit losses after a poor opening and the US stock futures indicated a pull-back session after sell-off in last session. At 4:50 pm IST, Dow Jones futures was up 0.13 per cent, S&P 500 moved 0.25 per cent and Nasdaq 100 moved 0.33 per cent higher.