Stock Markets

BSE-Sensex losses 81 pts, Nifty dips 12 pts on mixed global cues

BSE-Sensex losses 81 pts, Nifty dips 12 pts on mixed global cues The BSE benchmark Sensex finally ended the day with small loss, after skipping up and down throughout the trading session on mixed global cues.

The Sensex closed 81 points lower at 10,898 after hitting an intraday high of 11,068 and low of 10,764, while the National Stock Exchange's 50-share Nifty settled the day, down 12 points at 3,365 from its last close.

In addition, BSE Mid Cap Index closed with loss of 5.77% at 3523.14 while, Small Cap Index closed with gain 16.83 points at 4,027.98.

Indian Markets close lower due to weak global cues; Repo rate cut fails to cheer

India Stock MarketsThe benchmark indices ended with modest loss and were trading volatile throughout the session. The Sensex closed 81 points lower at 10,898 after hitting an intraday high of 11,068 and low of 10,764. The Nifty was down 12 points to settle at 3,365. It touched an intra-day high of 3,414 and low of 3,309. Among the broader indices the BSE Midcap Index was down 5 points while Smallcap Index shut at up at 17 points. The selling was seen in shares of major banking, capital goods, metal and auto companies and buying was witnessed in select telecom, reality and FMCG sectors. The market breadth was slightly weak and the volumes are on the lower side.

Sensex Regains 11K On RBI Rate Cut

Sensex Regains 11K On RBI Rate CutAfter opening the day on a negative note after a fall of 0.40% on the previous working day, the 30-share index, BSE Sensex recovered from day’s low and entered the positive terrain on the back of buying interest witnessed in select front line stocks.

Meanwhile, it also hit a high of 11,029.55.

Moreover, Reserve Bank of India (RBI) has slashed repo rate and reverse repo rate by 25 basis points each.

The stocks from FMCG, oil & gas and realty sector went up, while auto, banking, capital goods and metal stocks remained marginally down. 

Australian stocks battered after Wall Street fall

Australian stocks battered after Wall Street fall

Strong Intraday Resistance For Nifty Is At 3,440: Nirmal Bang

Strong Intraday Resistance For Nifty Is At 3,440: Nirmal BangIn his report, Nirmal Bang has announced that the immediate short-term support for nifty is at 3,310 – 3,230 region and a fall below this level will put more pressure and nifty can decline upto 3,155 – 3,110 in the coming days.

The report also said that this could be the best level for the medium term investors to make entry.

Me. Bang also said that presently the stock markets are trading in a very tight range of 3300-3420, a strong move beyond these range on the either side will give an obvious route.

Accumulate Sintex Industries at current price, Target 240: Sovid Gupta, FairWealth Securities

Sintex

Sintex Industries, with strong balance sheet and huge cash balance is well Equipped to manage current challenging business Equipment. We estimates Sintex Industries to post net sales of 3300 crores and 4200 crores for FY09 and FY10 respectively, posting compounded growth rate of 40% for 4 years.

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