It was a volatile session for the markets today with both benchmark indices recovering significantly after a gap down opening. The markets rallied with Asian markets and were trading with moderate gains when negative opening of European markets doused the sentiments and made the indices tumble. But in the last one hour they recovered and closed with about 0.75% losses. IT, metal and healthcare were the biggest losers of today's trade while auto and FMCG made substantial gains. The Sensex closed at 16858, down 132 points from its previous close, and the Nifty shut shop at 5073, down 46 points. The CNX Midcap index was down 1.1% while the BSE Smallcap index lost 2% in today's trade. The market breadth was negative with advances at 299 against declines of 1024 on the NSE. The top Nifty gainers were Ambuja Cements, DLF, Grasim and Cairn while the biggest losers included Reliance Power, Dr Reddy's Lab, GAIL and Cipla.
The markets recovered in the last one hour to close with moderate declines. The Sensex closed at 16896 (provisional), down 94 points from its previous close, and the Nifty closed at 5073 (provisional), down 46 points. The CNX Midcap index was down 1.1% and the BSE Smallcap index lost 2%. The market breadth was negative with advances at 354 against declines of 971 on the NSE.
Sell Steel Authority of India (SAIL) with a target price of Rs 117 as against the current market price (CMP) of Rs 116.
Buy Jindal Steel & Power with a target price of Rs 727 as against the current market price (CMP) of Rs 542.
Buy Cipla with a target price of Rs 361 as against the current market price (CMP) of Rs 308.
The markets recovered in the last one hour to close with moderate declines. The Sensex closed at 16896 (provisional), down 94 points from its previous close, and the Nifty closed at 5073 (provisional), down 46 points. The CNX Midcap index was down 1.1% and the BSE Smallcap index lost 2%. The market breadth was negative with advances at 354 against declines of 971 on the NSE.
Sell Steel Authority of India (SAIL) with a target price of Rs 117 as against the current market price (CMP) of Rs 116.
Buy Jindal Steel & Power with a target price of Rs 727 as against the current market price (CMP) of Rs 542.
Buy Cipla with a target price of Rs 361 as against the current market price (CMP) of Rs 308.
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