MID SESSION BETTER
First blow to the market on Railway budget day and ahead of
Union Budget on the 10th. Nifty closed below 7650 and gets into
short term bearishness. However, the same would be confirmed by one more
negative close. While Global cues,
Quarterly results and Funds flow
are expected to broadly guide the market movement, based on the present
market position, market can be expected to witness zigzag movements. Economic
Survey would have a bearing on the market movement.
Nifty
Review for Tuesday :: Black Tuesday … !!!
After remaining with minor bearish bias till the completion
of Rail budget, market fell sharply due to huge selling and lost more than 2%.
All sectoral indices closed in the red and Realty, Infra, PSU Bank, Metal ad
Energy indices lost heavily. Only 2 of Nifty stocks did not fall and all the
other 48 stocks closed in the red and
broader market was quite negative with Advance Decline ratio at 1:7. This could
be termed as one of the worst days in the recent past. Reliance, ICICI Bank,
L&T, ONGC dragged down Nifty by more than 60 points.
Sun Pharma, ITC
remained only gainers among Nifty stocks while DLF, BHEL, Jindal
Steel, NMDC, Power Grid remained major losers.
Just Dial, ITC, HDFC, Sun Pharma remained marginal gainers
among F&O stocks while Unitech, India Cement, JSW Energy, IFCI and
IRB declined among F&O stocks. More
than 15 stocks declined by more than 10%.
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