Indian equities continued their negative journey on Wednesday (Sep 10), as discouraging news poured in from world markets.

Metal, power, realty and PSU stocks suffered heavy selling action.
Capital goods and bank stocks managed to find modest support at lower
levels.

IT stocks went up. Some auto, FMCG and pharma stocks gained on
selective buying support. Mid-cap and small-cap stocks lost their way
after a fairly steady start and closed the day with sharp losses.

Taking signs from weak Asian markets, the BSE Sensex opened with a negative gap of around 100 points at 14,852.20 on Tuesday (Sep 09).

The BSE, which plunged to 14,714.92 during the day, marked its closure at 14,900.76 after losing 44.21 points. It also touched an intra-day high of 14,998.32.

The Nifty, which touched an intra-day high of 4497.50 and an intra-day low of 4418.95, ended the day at 4468.70, down 13.60 points.

Indian stock markets are likely to remain range bound in today’s trading session.

After opening with a gain of 494.41 points, at 14,978.24 on Monday (Sep 08), the market traded in a range bound manner all through the day.

At last, the BSE Sensex ended the day at 14,944.97, up 461.14 points, after hitting a high of 15,107.01 and a low of 14,917.06. The broad-based NSE Nifty gained 130 points at 4,482.30 after touching a high of 4,558 and a low of 4,358.30.

The benchmark index, BSE Sensex, opened negatively on Friday (Sep 05) at 14,569.01 after losing 330 points triggered by worldwide indications and lower oil.

For the week ended on August 23, inflationary data declined for the second time in a row to 12.34%, as compared to 12.40% during the previous week because of fall in the prices of primary goods.

Technical analyst E Mathew has suggested investors to purchase Alstom Projects India Ltd (APIL) stock on declines in order to achieve a short-tern target of Rs 430.

The investors can achieve the target within a period of 3-4 weeks, and the strict stop loss for the suggested counter should be Rs 376.

Technical analyst Ashwani Gujral has maintained ‘buy’ rating on Housing Development and Infrastructure Limited (HDIL) stock with a short term target of Rs 415.

According to him, interested investors can purchase the stock above Rs 308 with a strict stop loss of Rs 275.

Today (Sep 04), the company’s shares opened at Rs 323.90 on the Bombay Stock Exchange (BSE), as against its last closure at Rs 325.85 on Monday (Sep 02). Current EPS & P/E ratio stood at 55.38 and 5.62 respectively. The share price has seen a 52-week high of Rs 1116.96 and a low of Rs 254.67 on BSE.