The markets remained inconsistent this week and overall it was negative trend that had upper hand. Both the benchmark indices and most of the sectoral indices closed in the red and the numbers are following: theSensexwas down 1.7% andNifty was also down 1.7%. The CNX Midcap indexwas down 0.6% while BSE Smallcap indexwas down 1.2% over the week. BSE IT down 1.3%, BSE Auto down 1.8%, BSE Bankex down 2%, BSE Metal down 2.8% andBSE OilGas up 1%. Fridays session was very volatile despite better then expected IIP Numbers index dropped and after the News of Earthquakein Japanthe cut depened. Nifty made intraday low of 5413.
The markets recovered a bit in the last hour of the trade and closed with declines of around three-fourth of a percent. Metal, IT and capital goods were the worst performers of today’s trade while FMCG and Oil & gas gained marginally today. The Sensex closed at 18174, down 153 points from its previous close, and Nifty shut shop at 5445, down 48 points.
The CNX Midcap indexwas down 0.7% and the BSE Smallcap index was down 1.1%. The market breadth was negative with advances at 323 against declines of 975 on the NSE. The top Nifty gainers were Ranbaxy,ONGC, BPCLand RILand prime losers included BHEL, RCom, Reliance Infraand Ambuja Cements.Wednesday itself we have adviced our subscribers to Buy Puts and Keep shorting index on any pullback rally till 5550/5610, Shorts inTCSand TATA POWERwere also recommended we do stopped out on LT Fut intraday in fridays session as the index dropped sudden after the Earthquake News.Our positional trade Educomp Rocked and from 467 it hit the low of 416 today against our positional targets of 440/430.
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