SENSEX 16479.58 -66.60
NIFTY 4974.80
-25.15
USD/INR 0053.81 +00.71
NASDAQ 2937.49 -08.78
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UPDATEDTIME 09.28 PM 09 MAY 2012
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The Sensex ended a volatile session in the negative terrain on
renewed concerns over the eurozone debt crisis. Investors should use the
downward correction in the market as an opportunity to cherry pick,
analysts said.
Markets are turning defensive, especially as foreign investors show signs of exiting some of their Indian holdings, with net sales of nearly Rs 1,000 crore ($187.88 million) in the last two sessions, according to provisional exchange and regulatory data, the report added.
The Sensex closed at 16,479.58, down 66.60 points, or 0.40 percent. It touched an intraday high of 16,615.74 and a low of 16,422.93.
The Nifty ended at 4,974.80, down 25.15 points, or 0.50 percent. It touched an intraday high of 5,016.25 and a low of 4,956.45.
Investors would do well to pick stocks of their choice as they are available at attractive prices. We will see some kind of a rally in the market in the first and second weeks of JuneHe expects the market to start rallying in June during the onset of monsoon.
If the rains show signs of coming in the first week (of June) in some parts of the country as they normally do and as IMD has been predicting a more or less normal monsoon, it will be the driver of the stock markets.
If the Nifty future breaks below 4,960, it may witness intense selling towards the 4,860-4,820 levels. On the upside, 5,130 would act as an important resistance level where it seeks its 200-day moving average. Sustaining above it could result in some short covering.
The BSE Midcap Index slipped 0.98 percent and the BSE Smallcap Index fell 1.23 percent.
Among sectoral indices, the BSE Realty Index was down 2.99 percent, the BSE Metal Index fell 2.06 percent, the BSE Bankex was 1.89 percent lower and the BSE Power Index slipped 1.84 percent. The BSE FMCG Index gained 2.69 percent and the BSE IT Index moved up 0.21 percent.
DLF (4.18%), State Bank of India (3.64%), M&M (3.21%), NTPC (2.92%) and Jindal Steel (2.90%) were among the top Sensex losers.
Dealers see bearish technical trend emerging in DLF and expect it to slip to Rs 168 levels.
ITC (5.61%), TCS (2.13%), Hindalco Industries (1.36%), Bajaj Auto (1.19%) and Wipro (1.11%) were among the index gainers.
The market breadth was negative on the BSE with 936 gainers against 1,796 losers.
The rupee closed lower against the US dollar in the wake of the eurozone debt crisis. The partially convertible rupee ended at 53.85, down 74 paise against previous close of 53.14.
The European markets continued to remain under pressure. Greece's radical leftist Syriza party has three days to attempt to put together a coalition, reports said. The FTSE 100 was down 1.11 percent, the CAC 40 fell 0.91 percent and the DAX moved 0.43 per cent lower.
Markets are turning defensive, especially as foreign investors show signs of exiting some of their Indian holdings, with net sales of nearly Rs 1,000 crore ($187.88 million) in the last two sessions, according to provisional exchange and regulatory data, the report added.
The Sensex closed at 16,479.58, down 66.60 points, or 0.40 percent. It touched an intraday high of 16,615.74 and a low of 16,422.93.
The Nifty ended at 4,974.80, down 25.15 points, or 0.50 percent. It touched an intraday high of 5,016.25 and a low of 4,956.45.
Investors would do well to pick stocks of their choice as they are available at attractive prices. We will see some kind of a rally in the market in the first and second weeks of JuneHe expects the market to start rallying in June during the onset of monsoon.
If the rains show signs of coming in the first week (of June) in some parts of the country as they normally do and as IMD has been predicting a more or less normal monsoon, it will be the driver of the stock markets.
If the Nifty future breaks below 4,960, it may witness intense selling towards the 4,860-4,820 levels. On the upside, 5,130 would act as an important resistance level where it seeks its 200-day moving average. Sustaining above it could result in some short covering.
The BSE Midcap Index slipped 0.98 percent and the BSE Smallcap Index fell 1.23 percent.
Among sectoral indices, the BSE Realty Index was down 2.99 percent, the BSE Metal Index fell 2.06 percent, the BSE Bankex was 1.89 percent lower and the BSE Power Index slipped 1.84 percent. The BSE FMCG Index gained 2.69 percent and the BSE IT Index moved up 0.21 percent.
DLF (4.18%), State Bank of India (3.64%), M&M (3.21%), NTPC (2.92%) and Jindal Steel (2.90%) were among the top Sensex losers.
Dealers see bearish technical trend emerging in DLF and expect it to slip to Rs 168 levels.
ITC (5.61%), TCS (2.13%), Hindalco Industries (1.36%), Bajaj Auto (1.19%) and Wipro (1.11%) were among the index gainers.
The market breadth was negative on the BSE with 936 gainers against 1,796 losers.
The rupee closed lower against the US dollar in the wake of the eurozone debt crisis. The partially convertible rupee ended at 53.85, down 74 paise against previous close of 53.14.
The European markets continued to remain under pressure. Greece's radical leftist Syriza party has three days to attempt to put together a coalition, reports said. The FTSE 100 was down 1.11 percent, the CAC 40 fell 0.91 percent and the DAX moved 0.43 per cent lower.
RAKESH MAKIN
+91,
9041667797(DIRECT), 9915684997
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0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Group mail id: makin97NSEtips@yahoogroups.co.in
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