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(prHWY.com) March 18, 2013 - Indore, India -- Indian Market
* Indian equity markets were down 0.62%
* Nifty down by 36.35 pts and settle at
* 5872.60
* Sensex down by 142.88 pts at 19427.56
* Bank Nifty down by 204.20 pts at
* 11816.55
Global Market
* European markets were down with FTSE
down by 39.49 closed at 6489 ,CAC
down by 25.13 closed at 3846 and DAX
down by 5.35 closed at 8053.
* Dow future was up 1.00 closed at
14453.00
Market Analysis
* Key benchmark indices edged lower as weakness in European stocks hit investor sentiment adversely. The market breadth was weak. The barometer index, the 30-share S&P BSE Sensex, lost 142.88 points or 0.73%, off close to 245 points from the day's high and up about 45 points from the day's low. Index heavyweight Reliance Industries (RIL) edged lower. BSE Sensex was up 209 points or 1.08% to 19,571.55
* Today's trade, shares of ICICI Bank, HDFC Bank and Axis Bank dropped after these three private sector banks on Thursday, 14 March 2013, said that they are investigating allegations of money laundering activities. Some PSU Banks edged higher. Realty stocks edged lower on profit booking after recent gains.Among the 30-share Sensex pack, 23 stocks rose while rest of them fell.
* Among PSU Bank stocks, State Bank of India, Union Bank of India, Bank of India, and Punjab National Bank gained by 0.18% to 0.67%.The Finance Minister on 28 February 2013 said that the government will provide Rs 14000 crore for capital infusion in public sector banks in FY 2014. Realty stocks edged lower on profit booking after recent gains. Unitech, D B Realty, Sobha Developers, Parsvnath Developers and HDIL dropped by 1.08% to 4.2%.DLF declined 4.36% to Rs 272.30. The stock had hit 52-week high of Rs 289.20 in intraday trade on 12 March 2013.
* Among the 30-share Sensex pack, 18 stocks fell while rest of them rose.
HEADLINE
* IT spend across markets rising; no big
wage hike seen: TCS
* See no stress in asset quality: Shriram
Transport
* Petronet LNG likely to commission Kochi
terminal by May-Jun
* Government share auction in NALCO
fully covered
STOCKS TO WATCH
* PANTALOON
* TATA MOTORS
* LUPIN
* RANBAXY
SCRIPS IN BAN PERIOD
* PUNJLLYOD
FACTORS TO WATCH
NIFTY
* Nifty looks Bearish
* Strategy: Sell on rise
* Support: 5800
* Resistance: 5920
BANK NIFTY
* Bank Nifty looks Bearish
* Strategy: Sell on rise
* Support: 11770
* Resistance: 11880
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