Wednesday, October 10, 2012

Nifty below 5700; Heavyweight Stocks are in under pressure on 10th October

After yesterday's sharp slowdown in the market environment of today is being witnessed. Realty shares the greatest effect on the market breakdown is clearly visible. Actually Arvind Kejriwal after new revelations added to the selling pressure in realty stocks. The Power, Capital Goods, Bank, PSU, IT and oil & gas stocks sold dominates. Healthcare and metal stocks have seen a little bit of shopping. Midcap and Smallcap stocks also declined with veterans is seeing. 

Nifty is Below 5700.
The 50-share NSE Nifty continued to trade below the 5700 level, which has been its resistance since the start of this week, weighed down by banking and financial, capital goods, technology and power stocks. The Indian rupee, which went near to 51 against the US dollar last week, slipping towards the 53 level again; it was down by 24 paise to 52.96 a dollar. The BSE benchmark fell 103 points to 18,690.40 and the NSE benchmark went down 31 points to 5,673.75. The broader markets too were down 0.5 percent as declining shares outnumbered declining by a ratio of 1172 to 870 on the BSE.

Heavyweight Stocks are down Today
If we talk of giants Siemens, Reliance Infra, IDFC, BHEL, ONGC, Tata Power, Gail, SBI, M & M, NTPC, L & T, HDFC Bank, Infosys, Axis Bank and Kotak Mahindra Bank has weakened in the 3-1 per cent . However, HCL Tech, JP Associates, Tata Steel, PNB, Ambuja Cements, Ranbaxy, Cipla, Grasim, Hero Honda Motors, ACC, Asian Paints and heavyweight stocks such as Bank of Baroda has 2.2 to 0.5 per cent.

Indiabulls Finance midcap stocks, DB Realty, Tulip Telecom and Finance Edelweiss most are broken from 5.5 to 4.8 per cent. India Infoline, Info Edge, Financial Tech, Hexaware Tech and mid-cap stocks such as Tube Investments has 7.5 to 2 per cent. Small-cap stocks Polaris Tech, Mon Distilirij, Mr Nath Communications, Kanani Industries and Vascon Engineering has the highest 6 to 4.6 per cent drop. Ikra, Peninsula Land, Supreme Infra, Atul and Rsoya 6.3 to 5 per cent, the highest in protein, such as small-cap stocks have gone up.

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