Thursday, 11 February 2016

BEARS ENGULFING THE MARKET TIGHTLY

STAR IS ON FIREEEEE HIT FINAL TGT 1000 MADE LOW OF 997
CRISIL ALMOST HIT FINAL TGT 1800 MADE LOW OF 1805.
FOR FREE TRIAL CALLS FILL UP THE FORM GIVEN TO YOUR RIGHT SIDE>>>>>>>>>>>>
There was blood on the D street as the Sensex is down 807.07 points at 22951.83 and the Nifty recorded days high and low at 7271.85 and 6970.2 points respectively. Stocks of public sector banks led losses for key benchmark indices. Weak Asian cues spoiled investors’ sentiment. Sectors like Finance, Industrials, FMCG, Consumer Durables, IT, Telecom and Utilities dragged the market down further. Scrips of Tata Motors, SBIN, Adani Port, HDFC and Cipla lost. State Bank of India, the nation’s top lender by assets, reported profits of the bank in the third quarter fell due to steep rise provisions it had to make for bad loans. The earnings of the banks fell 61% over corresponding period ending December 2014. The shares of SBI were traded at Rs 163 up 2.5% over Wednesday's closing. The market fell steeply on the back of continuing concerns about a global slowdown and the consequent impact on the financial sector. The US Fed also did not provide further clarity on future interest rate movement. Quarterly results declared over the past few days have also not met muted Street expectations and that has impacted investor sentiments. There was widespread fear in the market, as all the Sensex stocks barring Cipla and Dr Reddy's Laboratories ended in the red. All the sectoral indices also ended the day with losses. A total of seven stocks registered a fresh 52 week high in trades today, while 235 stocks touched a new 52 week low on the NSE. Indian Rupee opened weaker by 10 paise at 67.95/$ in early trade on Thursday as against the previous close of 67.85/$.Volatility will likely remain high in coming weeks as the budget approaches. Investors with at least 15-24 months horizon should be on an active stock lookout as valuations are getting attractive. The market benchmark Sensex on Thursday saw its 8th biggest single-day fall of 807 points as panic gripped the domestic bourses amid growing global economic slowdown fears.   BHEL, Adani Ports, ONGC and Hindalco were top losers in the Sensex while Cipla, Bharti Airtel and Dr Reddy's were gainers

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