The Sensex on Friday (July 25) closed the week at 14,274.94 after losing 502.07 points, while the broad based Nifty ended at 4311.85 points, down 121.7 points.

Alex Mathew, head - research centre, Geojit Financial Services said, “Nifty closed lower at 4,311, on weak European and Asian markets. Our markets were moving higher by 18.8% in the last one weak, showing slightly over situation. Nifty will remain in a range of 4,123 (50 DMA). A major upward or downward trend will emerge only if Nifty breaches these levels.”

Indian equities pared their gains, on Friday (July 25), because of renewed worries that credit market losses will expand and a decelerating worldwide economic system will diminish earnings.

Moreover, the stock markets fell following news of a bomb blast in outskirts of IT city Bangalore. At least two persons died and 20 people injured in eight blasts, which hit Bangalore’s central business area and other crowded regions.

The 30-share index, BSE Sensex fell further into the pessimistic zone on the back of continued buying activity witnessed in IT, Metal, FMCG and Banking sectors, where Realty, Auto and Oil & Gas climbed up.

It also touched an intraday low of 14,728.02. BSE Midcap fell 0.43%, while Smallcap surged 0.23%.

At 1:05 p.m., Sensex lost 152.99 points at 14,789.29, whereas the broad-based NSE Nifty stood at 4,444.75, down 32.05 points.

The market breadth was negative as it saw 1225 declinations as compared to 1225 advancements.

Karvy Stock Broking Limited has maintained ‘Buy’ rating on Larsen & Toubro (L&T) stock with an intraday target of Rs 2900.

According to Karvy, day traders can purchase the stock above Rs 2810 with a strict stop loss of Rs 2750. If the stock market remains on positive track, the next target for the day will be above Rs 2905.

As per views of stock market experts, investors can purchase Punj Lloyd Limited stock above Rs 270, in order to achieve an intraday target of Rs 276.

The stop loss for the suggested counter is Rs 265. The stock pricing becomes more attractive, and reach above Rs 278, if the stock markets remain positive.

On Wednesday (July 23), the company’s shares closed at Rs 269.90 on BSE. The total volume of the shares traded was 1874343. Current EPS and P/E ratio stood at 7.30 and 35.58 respectively. The stock has also seen 52-week high of Rs 589.10 and low of Rs 183.20 on BSE.

The BSE Sensex marked its closure on a strong note on Wednesday (July 23), as the political doubt over N-deal came to an end after the UPA government won the trust vote of confidence on Tuesday (July 22).

Heavy buying action was seen in banking, capital goods, realty, and power stocks.

The Sensex closed the day on a firm note at 14,942.28, up 838.08 points. It also touched a high of 14,979.90 and a low of 14,568.22 during the day.