14 Aug 2008 | 17:42
Markets
end in the red for the third day in a row The markets opened lower on
Thursday morning and traded in a lackluster fashion for most of the day
to finally close near the lows of the day.202
Markets
end in the red for the third day in a row The markets opened lower on
Thursday morning and traded in a lackluster fashion for most of the day
to finally close near the lows of the day.
Global cues were weak due
to renewed concerns in the US financial space and an increase in crude
prices. The much awaited inflation data should be out this evening.
While the Sensex closed down 369 points or 2.44% at 14,724, the Nifty lost
98.4
points or 2.17% at 4431. The broad market indices too ended lower as
the BSE Midcap and Smallcap index lost 1.79% and 1.65% respectively.
Market breath was pathetic, as A/D ratio was about 0.4:1 on the BSE.
Turnover on the NSE for Thursday was Rs. 11018.75 versus Rs. 12052.24
cr yesterday.
Barring the BSE IT and Healthcare indices, all the
BSE Sectoral Indices ended in the red. The biggest losers were the
Capital Goods, Bankex and Realty indices that lost 3.7%, 5% and 8%
respectively. Gainers from the BSE-30 were Infosys, Tata Power, Satyam,
Sterlite and Tata Steel. The losers from the Sensex pack included DLF,
Jaiprakash Associates, Rel Infra, SBI and ICICI Bank.
With the
markets now correcting for three consecutive sessions, traders need to
keep a watch for the 4360 support levels on the Nifty. A close below
these levels could lead to a further decline and possibly a testing of
the 4270-4170 levels. We recommend a go slow approach on fresh longs
till we see evidence of strength emerging.
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Markets
end in the red for the third day in a row The markets opened lower on
Thursday morning and traded in a lackluster fashion for most of the day
to finally close near the lows of the day.202
Markets
end in the red for the third day in a row The markets opened lower on
Thursday morning and traded in a lackluster fashion for most of the day
to finally close near the lows of the day.
Global cues were weak due
to renewed concerns in the US financial space and an increase in crude
prices. The much awaited inflation data should be out this evening.
While the Sensex closed down 369 points or 2.44% at 14,724, the Nifty lost
98.4
points or 2.17% at 4431. The broad market indices too ended lower as
the BSE Midcap and Smallcap index lost 1.79% and 1.65% respectively.
Market breath was pathetic, as A/D ratio was about 0.4:1 on the BSE.
Turnover on the NSE for Thursday was Rs. 11018.75 versus Rs. 12052.24
cr yesterday.
Barring the BSE IT and Healthcare indices, all the
BSE Sectoral Indices ended in the red. The biggest losers were the
Capital Goods, Bankex and Realty indices that lost 3.7%, 5% and 8%
respectively. Gainers from the BSE-30 were Infosys, Tata Power, Satyam,
Sterlite and Tata Steel. The losers from the Sensex pack included DLF,
Jaiprakash Associates, Rel Infra, SBI and ICICI Bank.
With the
markets now correcting for three consecutive sessions, traders need to
keep a watch for the 4360 support levels on the Nifty. A close below
these levels could lead to a further decline and possibly a testing of
the 4270-4170 levels. We recommend a go slow approach on fresh longs
till we see evidence of strength emerging.
Visit site at – http://investorline.co.in/
Newsroom - http://newsroom.investorline.co.in/
Learning Center- http://learning.investorline.co.in/
Mutual funds - http://mutualfunds.investorline.co.in/
Life Insurance - http://insurance.investorline.co.in/
Investor Journal - http://research.investorline.co.in/
Investor Forums- http://forums.investorline.co.in/
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