WERE SENSEX TOP GAINERS
MARKET ENDED 01.07.2010 THURSDAY
SENSEX 17509.33 -191.57
NIFTY 5251.40 -61.10
NASDAQ 2109.24 -25.94
DJIA 9774.02 -96.28
RS/$ 46.60 -00.08
Indian equity benchmarks ended with heavy losses Thursday, mirroring other global peers on concerns of economic recovery. The mid and small cap stocks closed flat.
Indices opened lower after weak economic data from China spooked sentiments across Asia. China's Purchasing Manager’s index fell to 52.1 in June from 53.9 in May. Negative opening of European indices also kept buyers under check.
Meanwhile, Indian manufacturing growth cooled in June after a surge in activity the prior month, mainly due to slowing production and rapidly easing input price pressures, a survey showed. The HSBC Markit Purchasing Manager's Index, based on a survey of 500 companies, slipped to 57.3 in June from 59.0 in May, which was the highest in more than two years.
National Stock Exchange’s Nifty ended at 5251.40, down 61.10 points or 1.15 per cent. The broader index hit a low of 5232.10 and high of 5312.55.
Bombay Stock Exchange’s Sensex closed at 17509.33, down 191.57 points or 1.08 per cent. The 30-share index hit a high of 17679.34 and low of 17455.41.
We see the market remaining rangebound between 5050-5450. This month’s expiry is likely at 5100 levels. Traders should adopt stock specific approach and go long.
IFCI, Reliance Infrastructure, IDBI, IDFC, Chambal Fertilisers and Divi’s Labs can be bought of declines as 8-10% upside is expected in them.
BSE Midcap Index was down 0.39 per cent and BSE Smallcap Index was up 0.11 per cent.
Amongst the sectoral indices, BSE Metal Index was down 1.70 per cent, BSE Realty Index fell 1.45 per cent and BSE Auto Index slipped 1.23 per cent.
Sterlite Industries (-3.33%), TCS (-3.10%), PNB (-3.08%), Reliance Communications (-3%) and Wipro (-2.85%) were amongst the major Sensex losers.
IDFC (1.51%), Hindustan Unilever (1.33%), Reliance Infrastructure (1.08%), Idea (0.84%), and Bharti Airtel (0.68%) were the only gainers.
Market breadth was flat on the NSE with 1,588 declines against 1,543 advances.
US stock futures indicate flat-to-positive start. At 4:45 pm IST, Dow Jones futures was up 0.07 per cent, S&P 500 moved 0.06 per cent higher and Nasdaq declined 0.10 per cent.
Regards,
RAKESH MAKIN
Chugh securities Pvt Ltd
+91 9915684997,9041667797(DIRECT)
OFF 0172-4657997
PANCHKULA (Haryana).
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