SENSEX 15792.41 -72.45
NIFTY 4751.30
-20.85
NASDAQ 2446.83 +30.14
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UPDATEDTIME 09.28 PM 05 OCTOBER 2011
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The 50-share
National Stock Exchange benchmark Nifty ended a volatile marred session in the
negative terrain as risk-averse booked profits near intermediate resistance
levels. Banks, oil & gas and metals ended in the red while defensives like
pharmaceuticals and FMCG stocks led the gainers pack.
National Stock Exchange's Nifty ended at 4752.35, down 19.80 points or 0.41 per cent. The broader index touched a high of 4827.80 and low of 4741 in trade today.
Bombay Stock Exchange's Sensex was at 15786.40, down 78.46 points or 0.49 per cent. The 30-share index touched intraday low of 15760.53 and high of 16044.91.
BSE Midcap Index was down 1.06 per cent and BSE Smallcap Index slipped 0.90 per cent.
Amongst the sectoral indices, BSE Healthcare Index moved 0.89 per cent higher, BSE FMCG Index gained 0.65 per cent and BSE Realty Index advanced 0.49 per cent. BSE Bankex was down 2.66 per cent, BSE Oil&gas Index declined 0.69 per cent and BSE Metal Index slipped 0.59 per cent.
State Bank of India (-4.22%), Hindalco Industries (-3.80%), BHEL (-3.40%), Jindal Steel (-3.23%) and ICICI Bank (-2.82%) were amongst the major Nifty losers.
Shares of SBI were witnessing profit booking after ratings agency Moody's downgraded its financial strength rating to 'D+' from 'C -' on account of the bank's low Tier-I capital ratio and deteriorating asset quality.
We believe downgrade will increase overseas funding costs as large institutional investors would require higher risk premium due to increase in credit risk. SBI has ~ 20% international book which is largely funded trough overseas borrowings. Overseas NIMs are hovering around ~ 166bps, likely to come under pressure.
The brokerage has maintained a 'Buy" recommendation on the stock with revised target price of Rs 2,073 per share.
Jaiprakash Associates (4.38%), DLF (3.24%), Sun Pharma (2.48%), Tata Power (2.27%) and Dr Reddy's Laboratories (1.94%) were amongst the major gainers.
National Stock Exchange's Nifty ended at 4752.35, down 19.80 points or 0.41 per cent. The broader index touched a high of 4827.80 and low of 4741 in trade today.
Bombay Stock Exchange's Sensex was at 15786.40, down 78.46 points or 0.49 per cent. The 30-share index touched intraday low of 15760.53 and high of 16044.91.
BSE Midcap Index was down 1.06 per cent and BSE Smallcap Index slipped 0.90 per cent.
Amongst the sectoral indices, BSE Healthcare Index moved 0.89 per cent higher, BSE FMCG Index gained 0.65 per cent and BSE Realty Index advanced 0.49 per cent. BSE Bankex was down 2.66 per cent, BSE Oil&gas Index declined 0.69 per cent and BSE Metal Index slipped 0.59 per cent.
State Bank of India (-4.22%), Hindalco Industries (-3.80%), BHEL (-3.40%), Jindal Steel (-3.23%) and ICICI Bank (-2.82%) were amongst the major Nifty losers.
Shares of SBI were witnessing profit booking after ratings agency Moody's downgraded its financial strength rating to 'D+' from 'C -' on account of the bank's low Tier-I capital ratio and deteriorating asset quality.
We believe downgrade will increase overseas funding costs as large institutional investors would require higher risk premium due to increase in credit risk. SBI has ~ 20% international book which is largely funded trough overseas borrowings. Overseas NIMs are hovering around ~ 166bps, likely to come under pressure.
The brokerage has maintained a 'Buy" recommendation on the stock with revised target price of Rs 2,073 per share.
Jaiprakash Associates (4.38%), DLF (3.24%), Sun Pharma (2.48%), Tata Power (2.27%) and Dr Reddy's Laboratories (1.94%) were amongst the major gainers.
Market
breadth was negative on the NSE with 1981 losers against 1315 gainers.
TOMORROW IS A HOLIDAY ON ACCOUNT OF RAMNAVI
Regards
Regards
RAKESH MAKIN
+91,
9041667797(DIRECT), 9915684997
OFF
0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Group mail id: makin97NSEtips@yahoogroups.co.in
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