The BSE 30-share Sensex was down 182.93 points or 1.03% to 17,592.77, its lowest closing level since 7 July 2010. The index rose 88.62 points at the day's high of 17,864.32 in mid-morning trade. The Sensex lost 267.35 points at the day's low of 17,508.35 in late trade. The S&P CNX Nifty was down 59 points or 1.11% to 5,253.55, its lowest closing level since 7 July 2010. The Nifty hit a low of 5,225.65 in late trade. The BSE Mid-Cap index fell 3.64% and the BSE Small-Cap index declined 4.3%. Both these indices underperformed the Sensex.
The market breadth was extremely weak. On BSE, 2414 shares declined while 506 shares advanced. A total of 60 shares remained unchanged. Among the 30-member Sensex pack, 22 declined while the rest gained. The total turnover on BSE amounted to Rs 3930 crore higher than Rs 2824.15 crore on Tuesday, 8 February 2011.
FOR TODAY: EU and US markets closed in RED. Asian markets are trading this morning in RED. SGX Nifty is trading at 5231.50, down 50.50 suggests that Nifty may open around 5230-5245 level. Support is now at 5200 and the free fall may make a halt around 5204-5210 level. If not, the next major support for the market is 5174 and 5077. On the upside, it may get a resistance around 5311 level for today. Above 5311, nifty future may hit 5345 level also. INVESTORS MAY START BUYING ONLY BLUE CHIP STOCKS WITH A SMALL LOT BASIS. REMEMBER, ON REVERSAL, A SHARP RECOVERY MAY TAKE PLACE.
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