SENSEX 17923.57
-154.93
NIFTY 5429.30 -54.00
USD/INR 0048.93 -00.23
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UPDATEDTIME 09.28 PM 24 FEBRUARY 2012
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The Bombay Stock Exchange's Sensex
was witnessing a choppy session as traders squared off positions ahead of
February series F&O expiry and due to lack of cues from global peers.
According to analysts, the market is likely to take cues from assembly
elections, Union Budget and Reserve Bank of India's policy meet.
Meanwhile, the Indian economy is likely to grow at 7.1 percent in FY12, higher than estimated 6.9 percent growth early this month, according to Prime Minister's Economic Advisory Council.
C. Rangarajan, chairman of the Economic Advisory Council, expects inflation to come down to 6.5 per cent by the end of the current financial year.
Nifty ended 5429.30, down 54.00 points. The broader index touched a high of 5629.95 and low of 5573.35 in trade so far.
The Bombay Stock Exchange's Sensex ended 17923.57, down 154.93 points . It touched intraday high of 18523.78 and low of 18339.15.
Nifty has strong support at 5550 levels. Current trend of the market in the short term is positive. Up-move in the market will face stiff resistance at 5620; Sustaining above the level of 5620 will lead to higher levels in markets to the tune of 5700. On the lower side breach of 5550 will be viewed negatively for targets of 5430 and 5300.
BSE Midcap Index was down 0.86 per cent and BSE Smallcap Index moved 0.79 per cent lower.
Amongst the sectoral indices, BSE Realty Index was down 1.60 per cent, BSE Bankex slipped 1.20 per cent, BSE Metal Index moved 1.14 per cent lower. BSE IT Index moved 1.26 per cent higher and BSE Oil&gas Index was up 0.70 per cent.
SBI (-4.10%), Sterlite Industries (-3.59%), DLF (-2.65%), Jindal Steel (-2.53%) and Punjab National Bank(-2.23%) were amongst the top Nifty losers.
The State Bank of India threw in a lifeline of around Rs 1,200 crore to the troubled Kingfisher Airlines, including working capital of Rs 400 crore, bank guarantee of Rs 500 crore and loan repayment extension worth Rs 250-300 crore, say reports.
Sesa Goa (3.34%), BPCL (2.84%), BHEL (2.19%), TCS (1.75%) Sun Pharma (1.65%) and ONGC (1.51%) were the major Nifty gainers.
Shares of Sun Pharmaceutical Industries gained on reports that the USFDA has reached a limited, temporary arrangement to import Lipodox from the company and its distribution subsidiary, Caraco Pharmaceutical Laboratories.
The Empowered Group of Ministers is likely to meet on February 24 to finalise the timeline for auctioning of five per cent stake in ONGC, say reports.
Market breadth was negative on the NSE with 497 gainers against 996 losers.
As per the provisional data, FIIs bought shares worth net Rs 1400.17 crore on Tuesday. They bought shares worth Rs 13549.43 crore so far the month of February against investment of Rs 10357.70 crore in the month of January 2012
Meanwhile, the Indian economy is likely to grow at 7.1 percent in FY12, higher than estimated 6.9 percent growth early this month, according to Prime Minister's Economic Advisory Council.
C. Rangarajan, chairman of the Economic Advisory Council, expects inflation to come down to 6.5 per cent by the end of the current financial year.
Nifty ended 5429.30, down 54.00 points. The broader index touched a high of 5629.95 and low of 5573.35 in trade so far.
The Bombay Stock Exchange's Sensex ended 17923.57, down 154.93 points . It touched intraday high of 18523.78 and low of 18339.15.
Nifty has strong support at 5550 levels. Current trend of the market in the short term is positive. Up-move in the market will face stiff resistance at 5620; Sustaining above the level of 5620 will lead to higher levels in markets to the tune of 5700. On the lower side breach of 5550 will be viewed negatively for targets of 5430 and 5300.
BSE Midcap Index was down 0.86 per cent and BSE Smallcap Index moved 0.79 per cent lower.
Amongst the sectoral indices, BSE Realty Index was down 1.60 per cent, BSE Bankex slipped 1.20 per cent, BSE Metal Index moved 1.14 per cent lower. BSE IT Index moved 1.26 per cent higher and BSE Oil&gas Index was up 0.70 per cent.
SBI (-4.10%), Sterlite Industries (-3.59%), DLF (-2.65%), Jindal Steel (-2.53%) and Punjab National Bank(-2.23%) were amongst the top Nifty losers.
The State Bank of India threw in a lifeline of around Rs 1,200 crore to the troubled Kingfisher Airlines, including working capital of Rs 400 crore, bank guarantee of Rs 500 crore and loan repayment extension worth Rs 250-300 crore, say reports.
Sesa Goa (3.34%), BPCL (2.84%), BHEL (2.19%), TCS (1.75%) Sun Pharma (1.65%) and ONGC (1.51%) were the major Nifty gainers.
Shares of Sun Pharmaceutical Industries gained on reports that the USFDA has reached a limited, temporary arrangement to import Lipodox from the company and its distribution subsidiary, Caraco Pharmaceutical Laboratories.
The Empowered Group of Ministers is likely to meet on February 24 to finalise the timeline for auctioning of five per cent stake in ONGC, say reports.
Market breadth was negative on the NSE with 497 gainers against 996 losers.
As per the provisional data, FIIs bought shares worth net Rs 1400.17 crore on Tuesday. They bought shares worth Rs 13549.43 crore so far the month of February against investment of Rs 10357.70 crore in the month of January 2012
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RAKESH MAKIN
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Email:makin_97@yahoo.com
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