Fear of recession in America created a situation of panic selling and Indian markets opened with significant losses. After European markets opened positive, both benchmark indices made a recovery. However, they could not maintain those levels and closed with a loss of more than 1.8%. IT and realty were the biggest losers in today's trade, though all sectoral indices closed negative. , and the Nifty shut shop at 5118, down 93 points. The market breadth was negative with advances at 227 against declines of 1115 on the NSE. The top Nifty gainers were Ambuja Cements, ACC, Bajaj Auto and Dr Reddy's Lab while the biggest losers included DLF, Cairn, GAIL and Cipla.
The markets closed extremely weak today and all sectoral indices closed in the red. The Sensex closed at 17015 (provisional), down 291 points from its previous close, and the Nifty closed at 5118 (provisional), down 93 points. TheCNX Midcap index was down 1.3% and the BSE Smallcap index lost 2.3%. The market breadth was negative with advances at 253 against declines of 1085 on the NSE.
Buy United Bank; target of Rs 109
Buy ILandFS Trans; target of Rs 259
Buy Hind Nat Glass; target of Rs 260
Buy Visa Steel; target of Rs 75
M&M can test Rs 705-710
L&T can test Rs 1725-1750
Invest in Coal India on dips
Invest in Jain Irrigation, Max India
Buy SBI, IRB Infra
The markets closed extremely weak today and all sectoral indices closed in the red. The Sensex closed at 17015 (provisional), down 291 points from its previous close, and the Nifty closed at 5118 (provisional), down 93 points. TheCNX Midcap index was down 1.3% and the BSE Smallcap index lost 2.3%. The market breadth was negative with advances at 253 against declines of 1085 on the NSE.
Buy United Bank; target of Rs 109
Buy ILandFS Trans; target of Rs 259
Buy Hind Nat Glass; target of Rs 260
Buy Visa Steel; target of Rs 75
M&M can test Rs 705-710
L&T can test Rs 1725-1750
Invest in Coal India on dips
Invest in Jain Irrigation, Max India
Buy SBI, IRB Infra
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