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(prHWY.com) March 19, 2013 - Indore, India -- Indian Market
* Indian equity markets were down 0.64%
* Nifty down by 37.35 pts and settle at
* 5835.25
* Sensex down by 134.36 pts at 19239.20
* Bank Nifty down by 81.05 pts at
11735.50
Global Market
* European markets were down with FTSE
down by 64.73 closed at 6424 ,CAC down
by 58.84 closed at 3785 and DAX down
by 98.77 closed at 7944.
* Dow future was down 96.00 closed at
14337.00
Market Analysis
* A brief intraday recovery was derailed in late trade on fresh selling. Markets across the globe dropped after Cyprus over the weekend announced plans to impose a one-time levy on bank deposits as part of a sovereign bailout. The market breadth was weak. The S&P BSE Sensex, was provisionally down 138.18 points or 0.71%, off 56.04 points from the day's high and up 57.15 points from the day's low. Index heavyweight Reliance Industries (RIL) extended fall in late trade. Another index heavyweight and cigarette major ITC edged higher.
* Interest rate sensitive auto and realty stocks edged lower. Metal stocks fell as LMEX, a gauge of six metals traded on the London Metal Exchange dropped 0.78% on Friday, 15 March 2013. Coal India slumped on turning ex-dividend. Tata Power fell on profit booking.
* Auto stocks declined. Tata Motors lost 1.41%. The company's British luxury car unit Jaguar Land Rover (JLR) on 12 March 2013 said its sales rose 3% to 26,855 units in February 2013 over February 2012. Sales were up in almost every major market in February 2013, JLR said.
* Metal stocks fell as LMEX, a gauge of six metals traded on the London Metal Exchange dropped 0.78% on Friday, 15 March 2013.Jindal Steel & Power (down 0.67%), Hindalco Industries (down 0.05%), Sesa Goa (down 2.13%), JSW Steel (down 0.67%), Tata Steel (down 1.51%), Steel Authority of India (SAIL) (down 1.96%), Sterlite Industries (India) (down 2.78%), Hindustan Zinc (down 1.68%) edged ower.
HEADLINE
* See strong growth across categories:
Godrej Consumer
* Delhi HC stays penalty against Bharti;
shares recover
* JSW Steel puts expansion plans on hold,
shares down 2%
* NALCO hits 4.4 year low post OFS
STOCKS TO WATCH
* IDBI
* LIC HOUSING
* KARNATAKA BANK
* BANK OF INDIA
SCRIPS IN BAN PERIOD
* PUNJLLYOD
FACTORS TO WATCH
NIFTY
* Nifty looks Bearish
* Strategy: Sell on rise
* Support: 5800
* Resistance: 5880
BANK NIFTY
* Bank Nifty looks Bearish
* Strategy: Sell on rise
* Support: 11670
* Resistance: 11800
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