Thursday, January 15, 2009
Trading Outlook until end of jan: Agarwal
"After witnessing a huge rally yesterday (Jan 14), Indian equities belled the day on a weak note following negative global cues causing a massive sell-off.
The 30-share index, BSE Sensex opened at 9,098.08, down 272.41 points from its last closure. After few minutes of trading, Sensex slipped below the 9,000 mark.
Realty stocks hit the most followed by information technology, metal and banking sectors. The annual inflation rate is likely to be announced later today.
BSE Midcap and Smallcap index fell 2.40% and 1.57% respectively.
On Wednesday, equities climbed up towards close after the Reliance pack shares surged sharply on hearsays that the brothers Mukesh and Anil Ambani were on line for an out-of-court conclusion in Reliance Industries-Reliance Natural Resources gas dispute case.
At 10:04 a.m., the 30-share index Sensex lost 385.67 points at 8,984.82, while the broad based Nifty stood at 2,725.90, down 109.40 points.
The major losers at the BSE Sensex were Reliance Capital (7.18%), Reliance Energy (7.17%), Jaiprakash Associates (6.97%), Reliance Communications (6.93%), Wipro (6.54%), and Tata Steel (6.37%).
Stock market analyst, Vishwas Agarwal said that on the Bombay Stock Exchange (BSE), 9,350 level is very important in order to sustain for any further upmove to 9,555 and 9,678."
The 30-share index, BSE Sensex opened at 9,098.08, down 272.41 points from its last closure. After few minutes of trading, Sensex slipped below the 9,000 mark.
Realty stocks hit the most followed by information technology, metal and banking sectors. The annual inflation rate is likely to be announced later today.
BSE Midcap and Smallcap index fell 2.40% and 1.57% respectively.
On Wednesday, equities climbed up towards close after the Reliance pack shares surged sharply on hearsays that the brothers Mukesh and Anil Ambani were on line for an out-of-court conclusion in Reliance Industries-Reliance Natural Resources gas dispute case.
At 10:04 a.m., the 30-share index Sensex lost 385.67 points at 8,984.82, while the broad based Nifty stood at 2,725.90, down 109.40 points.
The major losers at the BSE Sensex were Reliance Capital (7.18%), Reliance Energy (7.17%), Jaiprakash Associates (6.97%), Reliance Communications (6.93%), Wipro (6.54%), and Tata Steel (6.37%).
Stock market analyst, Vishwas Agarwal said that on the Bombay Stock Exchange (BSE), 9,350 level is very important in order to sustain for any further upmove to 9,555 and 9,678."
