Market wrap

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Market wrap

  1. 1. MARKET WRAP 26.03.2012Geojit BNP Paribas Financial Services Ltd., Registered Office: 5th Floor, Finance Tower, Kaloor, Kochi -682017, Kerala. For investor queries: customercare@geojit.com, For grievances: grievances@geojit.com | SEBI Regn. Nos.: NSE: INB/INF/INE 231337230 IBSE: INB 011337236 & INF 011337237 INSDL: IN-DP-NSDL-24-97 I Portfolio Manager: INP 000003203 I CDSL Regn no: IN-DP-CDSL-648-2012
  2. 2.  The markets opened on a negative note tracking Asian peers and then moved down with a negative bias throughout the day. It touched the lowest point of the day in the last hour of trade and closed near to it.  Sentiment turned negative as investors were confused on the new General Anti Avoidance Rule included in the Finance Act in the budget. The New rules give the taxman the authority to go deeper into transactions entered particularly for avoiding tax and would see companies end up spilling more for tax. Abcdefghi…Geojit BNP Paribas Financial Services Ltd., Registered Office: 5th Floor, Finance Tower, Kaloor, Kochi -682017, Kerala. For investor queries: customercare@geojit.com, For grievances: grievances@geojit.com | SEBI Regn. Nos.: NSE: INB/INF/INE 231337230 IBSE: INB 011337236 & INF 011337237 INSDL: IN-DP-NSDL-24-97 I Portfolio Manager: INP 000003203 I CDSL Regn no: IN-DP-CDSL-648-2012
  3. 3.  There was tremendous selling in realty stocks especially those having assets in Mumbai on reports that Maharashtra government may hike the stamp duty by 160 times for leave and license agreements for residential and commercial properties. Stocks like HDIL, DB realty etc crashed considerably today as they are the worst affected.  On the sectoral front, there was selling in realty, power, banking, metal and PSU leaving no one on the losers’ side. The market breadth, indicating the overall health of the market, was weak. We may see a bounce back early in trade tomorrow but overall trend remains weak. Volatility is expected to rise as we are nearing the March F&O expiry. Abcdefghi…Geojit BNP Paribas Financial Services Ltd., Registered Office: 5th Floor, Finance Tower, Kaloor, Kochi -682017, Kerala. For investor queries: customercare@geojit.com, For grievances: grievances@geojit.com | SEBI Regn. Nos.: NSE: INB/INF/INE 231337230 IBSE: INB 011337236 & INF 011337237 INSDL: IN-DP-NSDL-24-97 I Portfolio Manager: INP 000003203 I CDSL Regn no: IN-DP-CDSL-648-2012

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