http://www.newsonair.com/main-audio-new-player.asp?id=4059
On Tuesday The Indian market cracked in late trade to end at the lowest point of the day and with huge losses after a sell-off seen in banks (following poor Q4 earnings), IT, realty and capital goods. The Nifty closed below 5000 for the first time since January 18, 2012. Global weakness weighed on the Indian markets too as uncertainty loomed large over Europe post election results in France and Greece. Sensex shut shop at 16546, down 366 points and Nifty at 4999, down 114 points from the previous close. CNX Midcap index was down 1.5% and BSE Smallcap index was down 0.9%. The market breadth was negative with advances at 432 against declines of 994 on the NSE
Trend deciding level is 5,000. If Nifty shows strength above 5,000 levels, then rally to 5,050/5,120 may be seen. If Nifty does not show strength above 5,000 levels then selling pressure till 4,950/4,900/4,880 may also be seen
Indian stock market is expected to trade quite volatile and is likely to follow global cues.
Nifty spot if breaks and trade below 4960 then it is expected to show some more profit booking and if it manages to trade and sustain above 5020 level then some recovery can follow in the market. Please note this is just opening view and should not be considered as the view for the whole day.
Important Q4 Results to be declared today:
Important Q4 Results to be declared today:
1. PNB
2. ABB
3. ARVIND
4. RANBAXY
5. UBI
6. NIIT LTD
7. GVK POWER
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