Wednesday, April 09, 2008

Sensex down 169 points on global weakness

Weak global markets dampened investor sentiment and triggered a sell-off in metal, capital goods, information technology and oil stocks on the major Indian bourses today. Select bank stocks bucked the trend. A few stocks from power, pharma and PSU sectors also found support.

Even as a majority of large cap stocks struggled in the red, a host of stocks from midcap and smallcap segments progressed to higher levels on strong buying support. The market breadth, thanks to a fairly decent show by mid and smallcap stocks, was positive when trade ended today.

While the Sensex ended the day with a loss of 169.46 points or 1.08% at 15,587.62, the Nifty eased by 51.55 points or 1.08% to 4709.65. The Sensex touched a low of 15,479.42 in intra-day trades while the Nifty plunged to 4677.80.

Engineering and construction sector giant and capital goods index major Larsen & Toubro closed with a loss of over 5%. The mood was so bearish today that even the news of a big order win failed to lift the stock from lower levels today.

Wipro closed with a loss of 4.65%. Jaiprakash Associates ended lower by 4.45%. Tata Steel eased by 3.35% to Rs 656.30. Ranbaxy Laboratories, Grasim Industries, NTPC, Infosys Technologies and Hindustan Unilever eased by 2% - 2.75%.

Maruti Suzuki, Mahindra & Mahindra, Tata Consultancy Services, Hindalco, ACC, Cipla, Reliance Communications, Reliance Energy and Reliance Industries lost 1% - 2%. ITC eased by nearly a per cent. Tata Motors, Satyam Computer Services, ONGC and DLF closed with marginal losses. Ambuja Cements, HDFC Bank, HDFC and State Bank of India ended flat.

BHEL rallied smartly and posted an impressive gain of 4.7% today. Bharti Airtel closed 1.25% up at Rs 826.60. ICICI Bank gained around half a per cent. Sterlite Industries (2.3%) posted a smart gain. GAIL India and Punjab National Bank ended marginally higher.

Tata Communications ended with a huge loss of 11.5%. SAIL finished 6.55% down from its previous closing price. Nalco, Tata Power, Power Grid, HCL Technologies, Dr. Reddy's Laboratories, BPCL, Reliance Petroleum, Hero Honda, Unitech, Idea Cellular, Siemens and Suzlon Energy lost 1% - 3%.

Orchid Chemicals & Fertilizers vaulted nearly 16% on strong volumes. Tech Mahindra, Yes Bank, Sintex Industries, Gujarat Minerals, Max India, Glenmark Pharma, Moser Baer, Ashok Leyland and Reliance Power finished with strong gains.

Rajesh Exports, Tata Tea, JP Hydropower, Indian Bank, Dish TV, Hindustan Zinc, Union Bank of India, Federal Bank, United Spirits and Torrent Power also ended on a strong note.

Kolte Patil Developers, IL & FS, S. Kumar's Nationwide, Network Media, MindTree Consulting, Alfa Laval, Jyoti Structures, Bharat Bijli, Corporation Bank, State Trading Corporation and Walchandnagar Industries closed with impressive gains.

Jai Corp, Jindal Steel, Thermax, India Cements, Rolta India, Century Textiles, HDIL, Spice Telecom, Phoenix Mills, Maytas, JSW Steel and Hindustan Construction Company ended with sharp losses.


2 comments: Team said...

Dear Visitors,

This Blog is really nice and informative. We are pleased to know this
blog is really helping people. Its our pleasure to post
Informative content on this useful blog created by webmaster.

As we all know major stock market exchanges in India are

and NSE. Full form of BSE is Bombay stock exchange covering SENSEX
where as

NSE is
National stock exchange covering Nifty and Nifty stocks.

Now a days USA is facing recession which is affecting world market and
recently we have witnessed major fall in Nifty and Sensex.

In this fall many investors were trapped and loosed around 50% to 70%
of their portfolio which is a major issue and need to be taken care

Stock market is risky and will remain risk always still one can
minimize risk factor in it by using proper stoploss. As the name suggest
Stoploss , it stops the losses
which one can incur in the market.

There are few levels which we call support and resistance level which
we suggest one should strictly follow for coming days if they want to
survive in stock market.

Right now Nifty is direction less

Major suport-4660 below it next will be 4400.If breached then 4000.

On upper side Res- 5100 closed above can take Nifty to 5200-5250 . 2-3
closings above 5200 means 5400.
We suggest strictly follow these level and enter in market as per these
levels as these are very crucial levels technically.

Please feel free to contact us for any query.

Have a Nice trading days ahead.



9891890425 Team said...

Dear Visitors,

This blog is really nice and informative. We are pleased to know this blog is really helping people.
Its our pleasure to post informative content on this useful blog created by webmaster.
Currently something is cooking in the Indian stock market,
We know it but unfortunately we cant disclose the reason so openly. We strongly suggest everyone not to take any long position at these levels.
We will see Pullback in the market very soon but that will be a fake one so don’t consider pullback as opportunity to go Long in market( Delivery based).
As after that initial pullback we can see fall once again. As mentioned cant disclose it still giving minor hint see call and put section and think why you
are not able to access few options and check December part and think who are the people behind it?? We suggest wait for falls to take delivery till then prefer only intraday else you will find yourself out of
BSE and NSE one fine day.For any query feel free to contact us.


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