Wednesday, 24 February 2016


SELL SIEMENS BELOW 993 TGT 987/975 SL 1010

Weak global markets dragged benchmark indices BSE Sensex and NSE Nifty down over 1 per cent on Wednesday All but one sectoral indices on Nifty in the red. Sensex dropped 321.25 points to 23088.93 and the NSE Nifty slipped 90.85 points at 7018.70. Banks, auto, IT, financial services stocks lead fall. TCS contributes to 7 points drag in Nifty, ITC 11 points. Asian markets ended mostly lower on Wednesday as hopes for a coordinated production cut by OPEC faded and investors fretted over additional pressure on bank earnings in 2016. The India Volatility Index, which measures implied volatility of stock options, closed at 23.83 up 13.4 %. VIX is often seen as a gauge of investor fear. Stocks of the Railway sector-linked companies were in focus ahead of the rail budget to be presented on Thursday. Stocks of Kalindee Rail Nirman (Engineers), Siemens,  Sanghvi Movers and Titagarh Wagons were trading  down . The rupee on Wednesday lost 6 paise to 68.64 against the dollar in early trade at the inter-bank foreign exchange market due to appreciation of the US currency overseas. BHEL stock was the top loser on both the benchmark indices and shed 5 per cent. Sugar stocks soared after prices hit a 22-year high in global markets. Fall in global markets on oil rout dampened sentiment again. Railway Budget and expiry of February derivative contracts will be closely watched on Thursday.
GAINERS: BPCL, Power Grid, M&M, Bharti Airtel, Axis Bank, Yes Bank, Asian Paints and Bank of Baroda   
LOSERS: BHEL, NTPC, Tata Motors, Hindalco, Vedanta and Cairn India.

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