MUMBAI: Benchmarks snapped four-day long winning streak and ended choppy session in the negative territory as traders booked profits at higher levels. Rate sensitives like banks, realty and auto led the decline while FMCG, oil&gas and pharma provided resistance.
“Nifty is likely to witness some amount of correction to the levels of 5900 in the near term. With last week’s recovery along with improvement in sentiments (locally and globally), traders are expecting a new high very soon (bullish hype generally associated with every pullback). However, with key indexes approaching key resistance levels, traders should consider taking some caution for 2011,” said IIFL note.
National Stock Exchange’s Nifty closed at 6146.35, down 11.25 points or 0.18 per cent. The broader index touched a high of 6181.05 and low of 6124.40 in today’s trade.
Bombay Stock Exchange’s Sensex closed at 20498.72, down 62.33 points or 0.30 per cent. The 30-share index touched a high of 20651.21 and low of 20449.01 intraday.
BSE Midcap Index was down 0.26 per cent and BSE Smallcap Index moved 0.04 per cent lower.
Amongst the sectoral indices, BSE Bankex was down 2.48 per cent and BSE Realty Index declined 1.12 per cent and BSE Auto Index slipped 0.55 per cent. BSE FMCG Index was up 1.70 per cent and BSE Oil&gas Index was up 1.29 per cent.
Nifty gainers included Suzlon Energy (2.86%), HCL Tech (2.11%), Hindustan Unilever (2.01%), Reliance Industries (1.93%) and Reliance Infrastructure (1.69%).
Shares of Suzlon Energy moved higher after reports that Spain's Gamesa Corporacion Tecnologica is interested in picking up some stake in the company. Meanwhile, Suzlon Energy has called the reports as speculative in nature.
Reliance Industries is mulling the establishment of a $1.2 billion liquefied natural gas import terminal on either the east or west coast to meet demand at its refineries and petrochemical plants.
ICICI Bank (-3.28%), SBI (-3.21%), Reliance Communications (-3.17%), Bajaj Auto (-2.94%), HDFC Bank (-2.41%) and were amongst the losers.
Market breadth was flat on the NSE with 1453 advances against 1498 declines.
Meanwhile, the European markets moved higher in line with other peers and the Wall Street is expected to follow suit. At 4:30 pm IST, Dow Jones was up 0.30 per cent, S&P 500 moved 0.24 per cent higher and Nasdaq moved 0.14 per cent higher.
“Nifty is likely to witness some amount of correction to the levels of 5900 in the near term. With last week’s recovery along with improvement in sentiments (locally and globally), traders are expecting a new high very soon (bullish hype generally associated with every pullback). However, with key indexes approaching key resistance levels, traders should consider taking some caution for 2011,” said IIFL note.
National Stock Exchange’s Nifty closed at 6146.35, down 11.25 points or 0.18 per cent. The broader index touched a high of 6181.05 and low of 6124.40 in today’s trade.
Bombay Stock Exchange’s Sensex closed at 20498.72, down 62.33 points or 0.30 per cent. The 30-share index touched a high of 20651.21 and low of 20449.01 intraday.
BSE Midcap Index was down 0.26 per cent and BSE Smallcap Index moved 0.04 per cent lower.
Amongst the sectoral indices, BSE Bankex was down 2.48 per cent and BSE Realty Index declined 1.12 per cent and BSE Auto Index slipped 0.55 per cent. BSE FMCG Index was up 1.70 per cent and BSE Oil&gas Index was up 1.29 per cent.
Nifty gainers included Suzlon Energy (2.86%), HCL Tech (2.11%), Hindustan Unilever (2.01%), Reliance Industries (1.93%) and Reliance Infrastructure (1.69%).
Shares of Suzlon Energy moved higher after reports that Spain's Gamesa Corporacion Tecnologica is interested in picking up some stake in the company. Meanwhile, Suzlon Energy has called the reports as speculative in nature.
Reliance Industries is mulling the establishment of a $1.2 billion liquefied natural gas import terminal on either the east or west coast to meet demand at its refineries and petrochemical plants.
ICICI Bank (-3.28%), SBI (-3.21%), Reliance Communications (-3.17%), Bajaj Auto (-2.94%), HDFC Bank (-2.41%) and were amongst the losers.
Market breadth was flat on the NSE with 1453 advances against 1498 declines.
Meanwhile, the European markets moved higher in line with other peers and the Wall Street is expected to follow suit. At 4:30 pm IST, Dow Jones was up 0.30 per cent, S&P 500 moved 0.24 per cent higher and Nasdaq moved 0.14 per cent higher.
source economics times