Markets continue southbound journey....Nifty plunges 0.9%: Markets had a flat opening for third straight session in the absence of substantial cues from domestic or global markets. The traders remained cautious ahead of August F&O series expiry, India GDP data and the US Federal meeting later this week. After remaining listless and tangebound till afternoon, the benchmarks accelerated their downward fall. The weak European opening and consistent parliament deadlock were factored in the fall that caused Sensex and Nifty to end below their respective psychological barriers of 17500 and 5300.

1. Markets continue southbound journey....Nifty plunges 0.9%
Market Summary
29-Aug-2012
Markets had a flat opening for third straight session in the absence of substantial cues from domestic or global markets. The traders
remained cautious ahead of August F&O series expiry, India GDP data and the US Federal meeting later this week. After remaining
listless and tangebound till afternoon, the benchmarks accelerated their downward fall. The weak European opening and consistent
parliament deadlock were factored in the fall that caused Sensex and Nifty to end below their respective psychological barriers of
17500 and 5300.
HCL Info systems, that gained over 20% yesterday on reports that the company is in talk with China based Lenovo to buy 50.1%
controlling stake in HCL Info, had crashed 9.36% today on denial of the news.
Leading infrastructure company Jai Prakash Associates plunged 9.23% on the news of increased debt to the tune of USD 150 million
via foreign currency convertible bonds (FCCBs).
HSBC upgraded Wipro from “neutral†to “overweight†considering its effectiveness for large deals. The stock after making
an intraday high of over Rs. 368 closed flat with gains of just 0.28%.
The market breadth on the BSE closed in negative. Advances and declining stocks were in a ratio of 1034:1715 while 142 scrips
remained unmoved.
The BSE Sensex ended at 17490.81, down 140.90 points or 0.80%. The 30 share index touched a high and a low of 17653.90 and
17471.13 respectively. 8 stocks advanced against 21 declining ones on the benchmark index.
The S&P CNX Nifty lost 46.80 points or 0.88% to settle at 5287.80. The index touched high and low of 5345.50 and 5282.70
respectively. 0 stocks advanced against 0 declining ones on the index.
Sensex Nifty
The BSE Mid-cap index moved down to 5962.21 and lost 0.54% while Small-cap index hammered down by 0.85% to 6364.32.
The broader BSE 500 index decreased to 6640.56 (down 0.74%) and S&P CNX 500 index declined to 4143.60 (down 0.78%).
The volatility as denoted by INDIA VIX gained 2.39% at 16.74 from its previous close of 16.35 on Tuesday.
Sectors in action
On the BSE Sectorial front, FMCG (up 0.57%) and Healthcare (up 0.27%) were the top gainers.
Real Estate (down 3.08%), Metals (down 1.79%) and Automobile (down 1.37%) were the top losers.
The Angels and the Devils
T Power Company Limited (up 0.87%), ITC Limited (up 0.50%), Maruti Suzuki India Limited (up 0.50%), Jindal Steel and Power
ata
Limited (up 0.31%) and Wipro Limited (up 0.28%) were the top gainers on the Sensex.
Sterlite Industries (India) Limited (down 4.69%), Bajaj Auto Limited (down 3.96%), Hero MotoCorp Ltd. (down 3.30%), Bharat Heavy
Electricals Limited (down 2.89%) and Hindalco Industries Ltd. (down 2.72%) were the top losers on the Sensex.
Benchmark Drivers
Infosys Limited (-19.57 points), Reliance Industries Limited (-16.23 points), Housing Development Finance Corporation Limited (-
13.80 points), Oil and Natural Gas Corporation Limited (-13.34 points) and Bajaj Auto Limited (-11.55 points) were the major Sensex
drivers today.
On the other end ACC Limited (0.00 points), Ambuja Cements Limited (0.00 points), Asian Paints (India) Limited (0.00 points), Axis
Bank (0.00 points) and Bajaj Auto Limited (0.00 points) were the major Nifty movers today.
Going Forward
(Technical Support and Resistance levels for next session)
Technically after breaking the 5300 barrier, Nifty can test 5200 levels now. Pivot is still at 5300 levels.
S3 S2 S1 PIVOT R1 R2 R3
5201 5241 5264 5304 5327 5367 5390
On the other end, Sensex is headed towards 17000 marks again. The Pivot rests above 17500 levels.
S3 S2 S1 PIVOT R1 R2 R3
17241 17356 17423 17538 17605 17720 17787
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