makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 01.02.2011TUESDAY

Tuesday, February 1, 2011

MARKET ENDED 01.02.2011TUESDAY

WERE TODAYS GAINERS

MARKET ENDED 01.02.2010 TUESDAY

SENSEX 18022.22 -305.54

NIFTY 5417.20 -88.70

NASDAQ 2725.05 +24.97

DJIA 5949.24 +86.30

UPDATEDTIME 09.28 PM 01 FEB 2011

Indian markets ended in deep red as foreign institutional investors turned sellers on concerns that rising interest rates would put pressure on corporate earnings. All the sectoral indices closed in the red with realty, auto and capital goods space worst hit.
According to analysts there are not many leveraged positions in the market and the correction is largely based on FII selling and rise in crude oil price amidst tensions in the Middle East.
Crude oil touching a new high is a worry. If it continues to move higher then can trigger further sell-off in the Indian markets. We are not nearing a bottom and on the downside we also see 5250-5200. We may see the sell-off ending in a day or two and the Nifty may bounce back to 5520 levels.
Oil prices are likely to dominate sectors and stocks in coming sessions. Oil marketing companies, auto and aviation stocks are likely to face more selling pressure if the oil prices goes higher.

Bombay Stock Exchange’s Sensex ended at 18022.22, down 305.54 points or 1.67 per cent. The 30-share index touched a low of 17982.17 and high of 18452.06 in trade so far.

National Stock Exchange’s Nifty closed at 5417.20, down 88.70 points or 1.61 per cent. The 50-share index touched intraday low of 5402 and high of 5539.15.

BSE Midcap Index was down 1.63 per cent and BSE Smallcap Index moved 1.44 per cent lower.

Amongst the sectoral indices, BSE Realty Index fell 4.04 per cent, BSE Auto Index declined 2.83 per cent and BSE Capital Goods Index moved 2.49 per cent lower.

Tata Motors (-6.84%), BPCL (-5.95%), Jindal Steel (-5.01%), Jaiprakash Associates (-4.81%) and Reliance Capital(-4.71%) were the top Nifty losers.

HDFC (0.50%), Bajaj Auto (0.33%), Sterlite Industries (0.12%) and ONGC (0.02%) were the only gainers.
Market breadth was negative on the NSE with 1961 declines against 933 advances.

Meanwhile, the European markets were in the green and a positive start is expected on the Wall Street. At 5:05 pm IST , Dow Jones futures was up 0.37 per cent, S&P 500 moved 0.50 per cent higher and Nasdaq advanced 0.65 per cent.
Regards