SENSEX 16639.82 -206.23
NIFTY 5043.00 -66.60
USD/INR 0055.45 -00.71
NASDAQ 2881.70 +27.46
GOLD 29798.00 -37.00
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UPDATEDTIME 09.28 PM 26 JULY 2012
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The Sensex broke
out of its intraday range towards the end of the session and closed over 200
points lower on the July series F&O expiry day. All sectoral indices ended
in the red with realty, capital goods and banks leading the declines.
Selling pressure was seen in rate-sensitives as traders unwound long positions in anticipation that the Reserve Bank of India may not cut interest rates at its meet this month, dealers say.
The monsoon has been weak in most parts of the country and may result in higher commodities prices.
With food inflation being in the region of over 10 per cent, the RBI has little elbow room to really maneuver. The thoughts of the RBI going back on the interest rates and lowering them looks unlikely as it has taken a stance that it is going to combat inflation.
The market will be driven by reforms measures and global markets for the next series, according to analysts.
"In the near term, we will continue to be driven by news from Delhi and the overseas markets, which keep giving us jitters every couple of weeks. It is not something which can be wished away. Individual stocks are largely going to be driven by the disappointments or positive surprises that quarterly results might bring.
The 30-share BSE index closed at 16,639.82, down 206.23 points or 1.22 per cent. It touched a high of 16,899.77 and a low of 16,598.48 today.
The Nifty ended at 5,043, down 66.60 points or 1.30 per cent. The broader 50-share NSE index touched a high of 5,126.30 and a low of 5,032.40 today.
"From higher levels of 5,360, the Nifty July series gradually drifted below 5,050 by making lower tops-lower bottoms. Now, 4,980-5,000 is strong support for the market whereas on the upside 5,170-5,200 zone would be tough resistance zone for the market.
Nifty futures saw a rollover of more than 63 per cent as per provisional data. For trading purpose, if the Nifty sustains above 5,100 levels, then 5,170-5,200 levels can be expected.
The BSE Midcap Index and the BSE Smallcap Index each fell 2.07 per cent.
Among sectoral indices, the BSE Realty Index was down 3.07 per cent, the BSE Capital Goods Index was 2.04 per cent lower, the BSE Bankex declined 1.67 per cent and the BSE FMCG Index was 1.57 per cent lower.
Tata Motors (3.80 per cent), Tata Power (2.91 per cent), Wipro (2.64 per cent), Sterlite Industries (2.64 per cent), and SBI (2.58 per cent) were the top Sensex losers.
Sun Pharmaceuticals (2.32 per cent), Bajaj Auto (1.37 per cent), NTPC (1.03 per cent), GAIL (0.77 per cent) and Maruti Suzuki (0.44 per cent) were among the major gainers.
Shares of Tulip Telecom, Everonn Education, Parsvnath Developers, Radico Khaitan, Glodyne Techno, Pipavav Defence, SRS, Nitin Fire, among others, plunged today on fears that margins calls may have been triggered by lenders.
A Kolkata-based HNI's shares were offloaded,
The market breadth was negative on the BSE with 842 gainers against 1,934 losers.
Selling pressure was seen in rate-sensitives as traders unwound long positions in anticipation that the Reserve Bank of India may not cut interest rates at its meet this month, dealers say.
The monsoon has been weak in most parts of the country and may result in higher commodities prices.
With food inflation being in the region of over 10 per cent, the RBI has little elbow room to really maneuver. The thoughts of the RBI going back on the interest rates and lowering them looks unlikely as it has taken a stance that it is going to combat inflation.
The market will be driven by reforms measures and global markets for the next series, according to analysts.
"In the near term, we will continue to be driven by news from Delhi and the overseas markets, which keep giving us jitters every couple of weeks. It is not something which can be wished away. Individual stocks are largely going to be driven by the disappointments or positive surprises that quarterly results might bring.
The 30-share BSE index closed at 16,639.82, down 206.23 points or 1.22 per cent. It touched a high of 16,899.77 and a low of 16,598.48 today.
The Nifty ended at 5,043, down 66.60 points or 1.30 per cent. The broader 50-share NSE index touched a high of 5,126.30 and a low of 5,032.40 today.
"From higher levels of 5,360, the Nifty July series gradually drifted below 5,050 by making lower tops-lower bottoms. Now, 4,980-5,000 is strong support for the market whereas on the upside 5,170-5,200 zone would be tough resistance zone for the market.
Nifty futures saw a rollover of more than 63 per cent as per provisional data. For trading purpose, if the Nifty sustains above 5,100 levels, then 5,170-5,200 levels can be expected.
The BSE Midcap Index and the BSE Smallcap Index each fell 2.07 per cent.
Among sectoral indices, the BSE Realty Index was down 3.07 per cent, the BSE Capital Goods Index was 2.04 per cent lower, the BSE Bankex declined 1.67 per cent and the BSE FMCG Index was 1.57 per cent lower.
Tata Motors (3.80 per cent), Tata Power (2.91 per cent), Wipro (2.64 per cent), Sterlite Industries (2.64 per cent), and SBI (2.58 per cent) were the top Sensex losers.
Sun Pharmaceuticals (2.32 per cent), Bajaj Auto (1.37 per cent), NTPC (1.03 per cent), GAIL (0.77 per cent) and Maruti Suzuki (0.44 per cent) were among the major gainers.
Shares of Tulip Telecom, Everonn Education, Parsvnath Developers, Radico Khaitan, Glodyne Techno, Pipavav Defence, SRS, Nitin Fire, among others, plunged today on fears that margins calls may have been triggered by lenders.
A Kolkata-based HNI's shares were offloaded,
The market breadth was negative on the BSE with 842 gainers against 1,934 losers.
Regards
RAKESH MAKIN
+91, 9041667797(DIRECT),
9915684997
OFF 0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
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