Tuesday, 23 February 2016

BEARS SHOUT INDICES TURNED FROM BAD TO WORSE

BFUTILITIE ALMOST HIT FINAL TGT 560 MADE HIGH OF 557.75 BUY AT 515

The market continued to bleed with the Sensex skid 378 points or 1.6 % at 23410.18 and the Nifty slipped 125 points or 1.7 % at 7109.55. About 723 shares have advanced, 1883 shares declined, and 142 shares are unchanged.The overall market breadth was negative as 1,885 stocks declined while 718 stocks advanced.Selling pressure was visible across the sectors. Banking shares were among the worst hit in trades today. The banking sub-index on the National Stock Exchange- Bank Nifty ended 2.62 per cent lower at 14,008. Indian Rupee opened lower by 5 paise at 68.65/$ in early trade on Tuesday as against the previous close of 68.60/$. On Monday, Indian rupee weakened to 30 month low against the greenback, impacted by month end dollar demand from the importers and persistent foreign capital outflows. Moreover, strong tone in US dollar against basket of major currencies took a toll on Indian rupee. Sentiments also remained low on report that exports of over half of the sectors, out of the 30 closely monitored by the one in January due to a fall in global prices and demand. All but five of Nifty50 stocks were trading in the green erce Ministry, were in the negative as the benchmark index shed some 103 points. Asian Paints, which was up mariganally by 0.81%, was the top gainer followed by ONGC , Tata Motors , Tata Steel  and Infosys. Among the 45 losers, Cairn India lost the most at 4.21 per cent, followed by Bank of Baroda, Coal India, PNB and SBI.

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