makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 20.06.2011 MONDAY

Monday, June 20, 2011

MARKET ENDED 20.06.2011 MONDAY

WERE ONLY TODAYS GAINERS IN RED MARKET

MARKET ENDED 20.06.2010 MONDAY

SENSEX 17506.63 -363.90

NIFTY 5257.90 -108.50

NASDAQ 2634.84 +18.36

UPDATEDTIME 09.28 PM 20 JUNE 2011

Indian markets ended sharply lower after a sell-off triggered on concerns of renewed tax treaty between India and Mauritius. Shares of Reliance Infrastructure and Reliance Communications along with index heavyweight Reliance Industries were the top benchmark underperformers. GTL and GTL Infrastructure plunged on multiple rumours of pledged shares being sold, FCCBs default and loan re-payment to Punjab National Bank . Technology stocks led the losses.

Bombay Stock Exchange's Sensex ended at 17506.63, down 363.90 points or 2.04 per cent. The 30-share index hit a high of 17925.17 and low of 17314.38 intraday.

National Stock Exchange's Nifty closed at 5257.90, down 108.50 points or 2.02 per cent. The broader index touched a high of 5377.40 and low of 5195.90 in trade today.

BSE Midcap Index was down 3.17 per cent and BSE Smallcap Index moved 3.27 per cent lower.

Amongst sectoral indices, BSE Realty Index was down 4.15 per cent, BSE Oil&gas Index fell 3.22 per cent and BSE Auto Index declined 2.40 per cent.

Reliance Communications (-7.89%), Reliance Infrastructure (-5.60%), Tata Motors (-4.98%), Reliance Industries (-3.83%) and TCS (-3.44%) were the major Sensex losers.

Shares of Reliance Communications and Reliance Infrastructure were under pressure after reports that the duo will be replaced by Sun Pharmaceutical and Coal India from the Sensex beginning August 8.

Bharti Airtel (2.45%) and Hero Honda (0.30%) were the only index gainesr.

Technically, Nifty is trading in a negative zone, a close below 5170 level may drag the market towards 4900-4800 levels whereas on the upside, short covering is only likely to be seen above 5450 levels on closing basis.

BSE Midcap Index was down 3.18 per cent and BSE Smallcap Index moved 3.26 per cent lower.

Amongst sectoral indices, BSE Realty Index was down 4.16 per cent, BSE Oil&gas Index fell 3.42 per cent and BSE IT Index declined 2.50 per cent.

Reliance Communications (-8.35%), Reliance Infrastructure (-6.16%), Reliance Capital (-5.06%), Grasim (-4.73%), Cairn India (-4.73%) and Reliance Industries (-4.10%) were the major Nifty losers.

Shares of Reliance Communications and Reliance Infrastructure were under pressure after reports that the duo will be replaced by Sun Pharmaceutical and Coal India from the Sensex beginning August 8.

Shares of Reliance Industries continued to get beaten down after the leaked CAG report said the Oil Ministry and its technical arm, the DGH, allegedly favored Reliance Industries for its KG-D6 gas field.
Market breadth was negative on the NSE with 2308 declines against 587 advances.