THE FII WERE NET SELLERS WITH SALES WORTH RS. 706.84 CRORES (PROVISIONAL CASH MARKET FIG.)
The BSE 30-share Sensex was down 288.46 points or 1.54% to 18,395.97, its lowest closing level since 3 September 2010. The index lost 448.98 points at the day's low of 18,235.45 in late trade. The index gained 38.69 points at the day's high of 18723.12 at the onset of the trading session.
The S&P CNX Nifty was down 92.15 points or 1.64% at 5,512.15, its lowest level since 3 September 2010. The Nifty hit low of 5,459.55 in late trade, its lowest level since 1 September 2010.
The BSE Mid-Cap index fell 2.66% and the BSE Small-Cap index slumped 3.59%. Both these indices underperformed the Sensex.
The market breadth was weak. On BSE, 2,386 shares declined while 506 shares advanced and a total of 117 shares remained unchanged. Among the 30-member Sensex pack, 22 declined while the rest rose.
BSE clocked turnover of Rs 3886 crore on Friday, 28 January 2011, higher than Rs 3313.90 crore on Thursday, 27 January 2011.
VIEWS FROM DIFFERENT BROKING HOUSES:
BONANZA PORTFOLIO: “Nifty has again closed below 200 days simple moving average. The undercurrent is soft and the market is expected to trade with a weak bias. A bounce back from the day’s low is cannot be ruled. The market is likely to trade in a range of 5,400 to 5,700”.
GEOJIT BNP PARIBAS FINANCIAL SERVICES: “Nifty crashed today below the 5,500 mark but closed above it with selling mounting in rate sensitive sectors like realty, banking, auto etc on fear of further rise in interest rate and other inflation taming measures from RBI. The Nifty futures PC ratio is around 0.8 showing less support for the market if it falls below the key support levels. For Nifty the next major support is there at 5,444 and 5,348”.
FOR TODAY: It has first resistance close to the level of 5622 & above this level the next resistance is seen near the 5682 mark. It has first support close to the level of 5470 & below this level the next support is seen near 5412 mark.
Buy ONGC above 1150 with stoploss below 1140 for a target of 11601170
Buy BPCL above 641 with stoploss below 632 for a target of 650/660
Sell Century Textile below 324 with stoploss above 334 for a target of 314/304
Sell RIL below 910 with stoploss of 925 for a target of 899/890/876
Sell Mercator Lines Ltd. below 45 with stoploss of 46 for a target of 43.50/42.70/42
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