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(prHWY.com) February 27, 2013 - indore, India -- Indian Market
* Indian equity markets were down 1.60%
* Nifty down by 93.40 pts and settle at
* Sensex down by 299.73 pts at 19031.96
* Bank Nifty down by 198.90 pts at
* European markets were down with FTSE down by 75.08 closed at 6280 CAC down by 70.29 closed at 3651 and DAXdown by 134.82 closed at 7638.
* Dow future was up 39.00 closed at 14006.00
* Key benchmark indices slumped after the Minister of Railways Mr. Pawan Kumar Bansal announced fuel adjustment component (FAC) linked revision for freight tariff to be implemented with effect from 1 April 2013, in Railway Budget for 2013-14. The barometer index, the S&P BSE Sensex, regained the psychological 19,000 level soon after falling below that mark in late trade.
* S&P BSE Sensex was down 299.73 points or 1.55% to 19,031.96
* CNX Nifty was down 87.25 points or 1.49% to 5,767.50, as per provisional figures.
* Among the 30-share Sensex pack, 25 stocks fell while the rest of them rose.
* Index heavyweight and cigarette maker ITC reversed intraday gains in late trade. Another index heavyweight Reliance Industries (RIL) extended intraday losses in late trade. Auto stocks dropped. Steel and cement stocks declined after the Minister for Railways Pawan Kumar Bansal today, 26 February 2013, announced fuel adjustment component (FAC) linked revision for freight tariff to be implemented with effect from 1 April 2013. Ranbaxy Laboratories dropped after Q4 results. Weakness in global stocks weighed on the domestic bourses. Stocks fell across the globe as political paralysis in Italy after its general elections fueled fears of renewed instability in Europe, scaring investors out of risky assets. Auto stocks dropped. Auto companies will start unveiling monthly sales volume data for February 2013 from Friday, 1 March 2013. India's largest motorcycle maker by sales, Hero MotoCorp, skidded 0.78%.
* Kingfisher down 5% after govt cancels
international flying rights
* Nifty, S&P fall short-term, but not
reversal in trend: CLSA
* Primary market to get more FII flows;
see lukewarm Budget
* Bharti, Idea rally on hopes of cut in
STOCKS TO WATCH
* ANDHRA BANK
* AUROBINDO PHARMA
SCRIPS IN BAN PERIOD
FACTORS TO WATCH
* Nifty looks Consolidate
* Strategy: Sell on rise
* Support: 5700
* Resistance: 5800
* Bank Nifty looks Consolidate
* Strategy: Sell on rise
* Support: 11800
* Resistance: 11910
* ELANTAS BECK
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