Daily Equity Report by www.epicresearch.co 24 JULY 2012
Indian equity markets down 1.67%
Nifty down 87.15 pts and settle at 5117.95
Sensex down 281.09 pts at 16877.35
Bank Nifty down 207.00 pts at 10274.60
European markets were down with FTSE down by 129.23 pts at 5522.54, CAC down by 86.69 pts at 3107.20 and DAX down 204.61 pts at 6425.41
Dow future down 205.00 pts at 12568.
The 30-share BSE Sensex fell 281 points - biggest fall in two months - on Monday, weighed down by Spain woes and road block to FDI in retail. Sharp fall in rupee too added fuel to the fire. The BSE benchmark declined 1.64% to close at 16,877.35 and the NSE benchmark was down 87.15 points to 5,117.95.
The Indian rupee was near to 56 a dollar today, which depreciated by 60 paisa to 55.92 against the US dollar. Market experts feel if the government won't take any action on reforms, then the rupee may cross the 57 a dollar too. Overall experts are still hopeful for diesel price cut. All sectoral indices ended in the red. The BSE Metal Index lost 3.35% while Realty, Power, Auto, Capital Goods and Bankex were down 2-2.9%.Top car maker Maruti Suzuki crashed 5.65% due to stoppage of work at its Manesar plant since Wednesday's violence. Commercial vehicle maker
Tata Motors tanked 3%.Country's largest lenders State Bank of India and ICICI Bank dropped 2% each while their rival HDFC Bank was down 1.57%.Metals stocks like Tata Steel, Sterlite Industries, Hindalco Industries and Jinda l Steel plunged 3-5%.The broader markets fell 1% as about three shares declined for every share advancing on the National Stock Exchange.
News you can use
Godrej Industries plans to raise up to Rs 405 cr via QIP
SIAM to take up Maruti labor stir with PMO, Haryana govt
LIC,Singapore Government hike stake in MukeshAmbani-ledReliance
Aurobindo Pharma gets USFDA nod for Metformin tablets
Factors to watch:
Nifty looks bearish
Strategy: Sell on rise
Bank Nifty looks bearish
Strategy: Sell on rise
STOCKS TO WATCH
SCRIPS IN BAN PERIOD
Epic Research is a leading financial services provider with presence in Indian and other global c0apital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, Stock Futures Tips, NSE Tips, BSE Tips, COMEX Tips, NCDEX Tips. Share Tips We provide services in equity, commodity and Forex market.
Our research is based around these services:
Stock Futures Tips
GET FREE TRIAL +91 731 664 2333
Or mail us here: email@example.com Or visit our site that is http://www.epicresearch.co/