Key benchmark indices snapped four day winning streak after the Reserve Bank of India (RBI) governor Dr. D. Subbarao on Friday, 8 March 2013, said that RBI doesn't accept high inflation as normal and believes that stable prices are critical for sustained economic growth.
• Indian equity markets were down 0.48%
• Nifty down by 28.25 pts and settle at
• Sensex down by 81.29 pts at 19564.92
• Bank Nifty down by 110.90 pts at
• European markets were up with FTSE
up by 0.28 closed at 6503 ,CAC up by
2.32 closed at 3838 and DAX down by
3.63 closed at 7980.
• Dow future was down 27.00 closed at
• Key benchmark indices snapped four day winning streak after the Reserve Bank of India (RBI) governor Dr. D. Subbarao on Friday, 8 March 2013, said that RBI doesn’t accept high inflation as normal and believes that stable prices are critical for sustained economic growth. Political worries also weighed on the bourses after the DMK on Saturday, 9 March 2013, warned the UPA government that it would not remain a mute spectator if the Centre continued to toe a soft line on the Sri Lanka issue. Weakness in European stocks also hit sentiment adversely on the domestic bourses. The barometer index, the 30-share S&P BSE Sensex, was provisionally down 74.47 points or 0.38%, off about 145 points from the day’s high and up close to 5 points from the day’s low. The market breadth was negative.
Key benchmark indices edged lower in choppy trade after the latest data showed that the consumer price inflation edged up further in February 2013. The barometer index, the 30-share S&P BSE Sensex, was provisionally down 110.53 points or 0.56%, up about 30 points from the day’s low and off close to 160 points from the day’s high. The market breadth was negative. Indian stocks declined for the second straight trading session today, 12 March 2013.
• BSE Sensex was down 110.53 points or 0.56% to 19,535.68.
• CNX Nifty was down 36.60 points or 0.62% to 5,905.55
• Among the 30-share Sensex pack, 23 stocks fell while rest of them rose.
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STOCKS TO WATCH
• APOLLO TYRE
• RELIANCE POWER
• BATA INDIA
SCRIPS IN BAN PERIOD
FACTORS TO WATCH
• Nifty looks Bearish
• Strategy: Sell on rise
• Support: 5880
• Resistance: 5960
• Bank Nifty looks Bearish
• Strategy: Sell on rise
• Support: 12000
• Resistance: 12140
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