Realty & Metal Slips || Ends below 11,000 || Inflation ease ||
After intially opening higher, indices came to negative zone and slips on the
continued selling pressure after a two day ongoing rally, heavyweights tumbled
on the back of profit booking. The high flyer realty and metal stocks came to
ground with a jet speed.
After a continuous eight day winning steak, Indian indices closed in red with
healthy slide. The global trend was mixed, but as we were outperforming the
world from last two days on positive side, we continued to do so with
significant margin but today it was the trend reversal. Incremental flows were
negative in today's trade. Majority of selling pressure came in from domestic
funds while local funds were booking profits across frontline stocks. Turnover
for the second consecutive day was above Rs. 1 lakh crore at Rs. 106780 cr.
Inflation : India`s benchmark wholesale price index (WPI), inflation declined
further to stand at 0.18% for the week ended Apr. 4, 2009 as compared to 0.26%
a week ago. Inflation was at 7.71% during the corresponding week of the
previous year. (Read the complete coverage here)
Intraday Techicals Performance : Our daily free Intraday call service continued
to shine, as in the negative market, we provided long calls and out of 5 calls,
4 bang on target and 1 calls hits stop loss. (check the article here)
World Markup : Asian stocks ended mixed on growing optimism stimulus efforts
and interest-rate cuts which are easing the global recession. Nikkei rose 12.30
points, or 0.14%, to end at 8,755.26, Hang Seng index fell 86.63 points, or
0.55%, to close at 15,582.99 and Shanghai Composite declined 1.92 points, or
0.08%, to settle at 2,534.13.
European stocks open on a positive note, led by banks. FTSE 100 rose 53.47
points, or 1.35%, to trade at 4,021.87, CAC 40 climbed 36.38 points, or 1.22%,
to trade at 3,022.12 and DAX rose 62.07 points, or 1.36%, to trade at 4,611.8.
(4.15 p.m., IST).
SECTORAL
Except FMCG index, which gained 1.9% in today’s trade, all other BSE sectoral
indices finished in red. Realty index was hit the hardest, shedding 9.2%
followed by Metal index, which fell 7%. Tata Motors and Reliance Infra were the
top losers among sensex stocks, plunging 13.5% and 9.4% respectively, while ITC
and Wipro gained 3.2% and 2.8% respectively.
The FMCG Index bucked the trend, went up 1.92% or 39.55 points, to 2,101.01.
Tata Tea, ITC, Nestle, HUL and Marico gained 1-4%.
The BSE Realty Index underperformed other indices, plunged 9.16% or 211.79
points, to close at 2,100.74. HDIL, Omaxe, Puravankara Projects, Parsvnath,
Orbit Corporation, Unitech, Sobha Developer, Ansal Properties, Indiabulls Real
and DLF were down 8.6-14.7%.
Metal stocks like Jindal Saw, JSW Steel, JSL, Tata Steel, Sesa Goa, Hindalco,
SAIL and Sterlite went down 5-12%. Respective Index fell 6.97% or 517.39
points, to 6,905.12.
Punj Lloyd, L&T, ABB, BHEL and Siemens declined 1-8% in the capital goods
space. The BSE Capital Goods Index declined 4.95% or 397.94 points, to settle
at 7,645.51.
Oil & Gas was the main sector that led this fall; Index declined 4.5% or 372.01
points, to 7,901.37. Cairn India, Reliance Industries, ONGC and Reliance
Petroleum fell 4.7-9.5%.
The Power Index slipped 4.38% or 94.84 points, to close at 2,071.40, as Suzlon
Energy plunged 18.27%. GVK Power, Reliance Infrastructure, Torrent Power,
Reliance Power, GMR Infra, CESC and Tata Power slipped 3.5-10%.
Axis Bank, ICICI Bank, SBI and HDFC Bank lost 1.8-6.7% in the banking space.
The BSE Bankex lost 3.11% or 172.28 points, to 5,369.17.
In the telecom pack, Idea Cellular, Reliance Communication, Tata Communication,
Tata Teleservices, Bharti Airtel and MTNL fell 2-7%.
Auto stocks like Tata Motors plummeted 13.50%. Bharat Forge, Ashok Leyland and
M&M lost 5-10%, which pushed the Index 92.36 points or 2.63% lower at 3,422.95.
The IT Index tumbled 2.16% or 52.78 points, to 2,391.77, as HCL Tech, Tech
Mahindra, Infosys and TCS declined 1-7%. However, Wipro gained 2.84%.
Glenmark, Ranbaxy Labs, Biocon and Dr Reddys Labs went down 3-6.8% in the
pharma space. The BSE Healthcare Index slipped 1.76% or 54.63 points, to
3,043.93.
Add more friends to your messenger and enjoy! Go to
http://messenger.yahoo.com/invite/
--~--~---------~--~----~------------~-------~--~----~
You received this message because you are subscribed to the Google Groups
""GLOBAL SPECULATORS"" group.
To post to this group, send email to [email protected]
To unsubscribe from this group, send email to
[email protected]
For more options, visit this group at
http://groups.google.com/group/globalspeculators?hl=en
-~----------~----~----~----~------~----~------~--~---
