Sensex hovers near 15000; SBI, Sterlite weigh June 8, 2009
Posted by dhirendra08 in Barring Exports, Current Rally, Most Economic Indicatior, Negative Market Breath, Worse Hit.Tags: Bombay Stock Exchange’s Sensex, Broader Markets, BSE Bankex (slip 2.09%), BSE IT Index (Up 1.78%), BSE Metal Index (decline 2.60%), BSE Midcap Index (down 1.41%), BSE Oil&gas Index (Up 0.49%), BSE Realty Index (down 3.94%), BSE Smallcap Index (fell 2.54%), Crucial Data Points, Enet-based Action, Global Market, Gradual Upturn, Grasim Industries (2.24%), Indian Market, Infosys Technologies (2.51%), Jaiprakash Associates (-3.80%), Liquidity Deluge, National Stock Exchange’s, Profit Booking, Recession, Reliance (1.56%) and Larsen & Toubro (1.56 %), State Bank of India (-4.67%), Sterlite Industries (-3.83%), Tata Power (2.30%), Tata Steel (-3.72%) and DLF (-3.32%), Upward Momentum
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Good morning friends. Indian markets were in the red Monday as traders resorted to profit booking taking cues from subdued global markets. Broader markets, which have been off late outperforming the benchmarks, were the worst hit.
“Liquidity deluge could continue to power the current rally even as fundamentally stocks appear to be expensive. Barring exports, most economic indicators are showing signs of a gradual upturn. Globally, crucial data points are underscoring a widely held view that the worst of the recession is over. However, the rally could slow over the next few days and the market may turn sideways. Event-based action will continue in the near term. The bulls do have miles to go, but they may prefer a short nap before that,” said India Infoline report.
At 12:20 pm, Bombay Stock Exchange’s Sensex was at 15018.72, down 84.83 points or 0.56 per cent. The 30-share index touched an intra-day low of 14761.9. 0 and high of 15200.82.
National Stock Exchange’s Nifty was at 4544.10, down 42.80 points or 0.93 per cent. The broader index hit a low of 4515.20 and high of 4611.40.
“If Nifty is able to sustain above 4610 in early trade then we can see further upward momentum to come in market. Nifty has resistance at 4615-4640-4655 and above 4655 we can see good amount of fresh buying in market taking the index to 4680-4700 in short time. Where as Nifty support is at 4580-4560-4545 and below 4545 we can see more profit booking to come in market dragging the index to 4520-4500,” said Arihant Capital Market report.
BSE Midcap Index was down 1.41 per cent and BSE Smallcap Index fell 2.54 per cent.
Amongst the sectoral indices, BSE Realty Index was down 3.94 per cent, BSE Metal Index declined 2.60 per cent and BSE Bankex slipped 2.09 per cent.
BSE IT Index was up 1.78 per cent and BSE Oil&gas Index was up 0.49 per cent.
State Bank of India (-4.67%), Sterlite Industries (-3.83%), Jaiprakash Associates (-3.80%), Tata Steel (-3.72%) and DLF (-3.32%) were amongst the Sensex losers.
Toppers included, Infosys Technologies (2.51%), Tata Power (2.30%), Grasim Industries (2.24%), Reliance (1.56%) and Larsen & Toubro (1.56 %).
Market breadth was negative on the BSE with 1799 declines and 838 advances.
