makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 07.07.2010 WEDNESDAY

Wednesday, July 7, 2010

MARKET ENDED 07.07.2010 WEDNESDAY

WERE SENSEX GAINERS

MARKET ENDED 07.07.2010 WEDNESDAY

SENSEX 17471.03 -143.45

NIFTY 5289.05 -01.20

NASDAQ2093.88 +02.09

DJIA9743.62 +57.14

RS/$46.91 +0.11

Equities ended near day’s lows on Wednesday as profit booking emerged across the board after concerns on economic recovery resurfaced in Europe. Oi l& gas, metals and banks led the decline while IT stocks ended marginally higher.
Benchmarks opened on a subdued note as traders took some profits off the table after an upmove in the previous session. Lacklustre Asian peers also hurt sentiments. There was some support from the broader markets but they too gave in to selling pressure with poor opening of European markets.

Bombay Stock Exchange’s Sensex closed at 17471.03, down 143.45 points or 0.81 per cent. The 30-share index hit intraday low of 17447.15 and high of 17623.66.

National Stock Exchange’s Nifty ended at 5241.10, down 47.95 points or 0.91 per cent. The index touched a low of 5233.45 and high of 5296.75 in today’s trade.
Markets are looking bearish and the Nifty may correct to 5100. Traders can short Nifty futures with stoploss of 5320.
The BSE Micap Index was down 0.06 per cent and BSE Smallcap Index declined 0.12 per cent.
Amongst the sectoral indices, BSE Oil&gas Index was down 1.70 per cent, BSE Metal Index declined 1.23 per cent and BSE Bankex moved 1 per cent lower.
Tata Motors (-2.22%), Sterlite Industries (-2.12%), ONGC (-1.87%), Reliance Industries (-1.83%) and ICICI Bank (-1.47%) were the major Sensex losers.
Bharti Airtel (1.86%), Reliance Communications (1.59%), TCS (0.77%), and BHEL (0.05%) were the only gainers.
Market breadth was negative on BSE with 1549 losers against 1341 gainers.
In Europe, markets were in the red led by financials and commodities. US stocks are also likely to open lower. At 4:40 pm IST, Dow Jones futures was down 0.26 per cent, Nasdaq 100 edged 0.22 per cent lower and S&P 500 slipped 0.27 per cent.