WERE TODAYS GAINERS IN BLOOD BATH MARKET 
MARKET ENDED 15.10.2010 FRIDAY
SENSEX 20125.05 -372.59
NIFTY 6062.65 -114.70
NASDAQ 2429.94 -11.29
S&P 500 1171.30 +06.80
HANG SENG 23852.17 +394.48 FTSE 5727.21 -20.14 UPDATED TIME 10.34 PM 15 OCT 2010 |
Indian markets ended sharply lower near psychological resistance levels Friday, as investors booked profits on concerns of global economic recovery. According to analysts, investors were also garnering funds for the Coal India IPO.
At open, indices extended overnight losses due to lack of support from Asian peers. The decline was led by IT stocks after Infosys Technologies announced second quarter results and noted challenges in global economic environment and volatility in currency markets.
Infosys revised 24-25% growth for revenue in US$ terms upward by 3.6% to US$5975 million, against our expectation of 21-23% year on year growth. Infosys has revised rupee EPS guidance by 1.4% to Rs115-117, a growth of 5.5-7.4% YoY inline with our. For Q3FY11, Infosys guided for 4% QoQ revenue growth to US$1555 and EPS guidance of Rs29.63 in rupee terms.
Bombay Stock Exchange’s Sensex ended at 20,125.05, down 372.59 points or 1.82 per cent. The 30-share index touched a high of 20,578.45 and low of 20,090.18.
National Stock Exchange’s Nifty closed at 6,062.65, down 114.70 points or 1.86 per cent. The index touched low of 6,050.35 and high of 6,200.60 in today’s trade.
Selling intensified in broader markets as well. BSE Midcap Index was down 1.22 per cent and BSE Smallcap Index ended 0.74 per cent lower.
Nifty is likely to take support around 5,800 next week. In case, it bounces back, we advise some profit booking. One need to be stock specific at current levels.
All the sectoral indices ended in the red. BSE IT Index fell 3.25 per cent, BSE Auto Index slipped 2 per cent and BSE Bankex declined 1.91 per cent.
Nifty losers included BPCL (-4.31%), Wipro (-3.97%), TCS (-3.76%), Axis Bank (-3.76%), Bharti Airtel (-3.49%) and Infosys Technologies (-3.15%).
Dr Reddy’s Laboratories (0.70%), NTPC (0.57%) and Cairn India (0.12%) were the only gainers.
Market breadth was negative on the BSE with 2,009 declines as compared to 978 advances.
At open, indices extended overnight losses due to lack of support from Asian peers. The decline was led by IT stocks after Infosys Technologies announced second quarter results and noted challenges in global economic environment and volatility in currency markets.
Infosys revised 24-25% growth for revenue in US$ terms upward by 3.6% to US$5975 million, against our expectation of 21-23% year on year growth. Infosys has revised rupee EPS guidance by 1.4% to Rs115-117, a growth of 5.5-7.4% YoY inline with our. For Q3FY11, Infosys guided for 4% QoQ revenue growth to US$1555 and EPS guidance of Rs29.63 in rupee terms.
Bombay Stock Exchange’s Sensex ended at 20,125.05, down 372.59 points or 1.82 per cent. The 30-share index touched a high of 20,578.45 and low of 20,090.18.
National Stock Exchange’s Nifty closed at 6,062.65, down 114.70 points or 1.86 per cent. The index touched low of 6,050.35 and high of 6,200.60 in today’s trade.
Selling intensified in broader markets as well. BSE Midcap Index was down 1.22 per cent and BSE Smallcap Index ended 0.74 per cent lower.
Nifty is likely to take support around 5,800 next week. In case, it bounces back, we advise some profit booking. One need to be stock specific at current levels.
All the sectoral indices ended in the red. BSE IT Index fell 3.25 per cent, BSE Auto Index slipped 2 per cent and BSE Bankex declined 1.91 per cent.
Nifty losers included BPCL (-4.31%), Wipro (-3.97%), TCS (-3.76%), Axis Bank (-3.76%), Bharti Airtel (-3.49%) and Infosys Technologies (-3.15%).
Dr Reddy’s Laboratories (0.70%), NTPC (0.57%) and Cairn India (0.12%) were the only gainers.
Market breadth was negative on the BSE with 2,009 declines as compared to 978 advances.
Regards
RAKESH MAKIN
+91 9915684997, 9041667797(DIRECT)
OFF 0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
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