K Lunch - Daily

Stock Market update till mid session

September 09, 2011 (1.00 PM)

Markets trading on a negative note

The key benchmark indices extended losses in the mid-morning trade as many Asian stocks reversed initial gains. Initial volatility was observed after which the markets edged lower, after a high opening was triggered by firm Asian stocks and gains in US index futures. The market breadth indicating the overall health of them market was positive. IT and Capital Goods stocks performed in the negative zone. Trade long in Nifty above 5100 levels for targets of 5200-5220 levels with stop loss placed below 5080 levels.
Indices SENSEX NIFTY Levels 17135.50 5139.10 Movement -30.04 -14.15

In the METAL stocks, SAIL and HINDALCO were down 2.79% and 2.52% at Rs. 115.10 and Rs. 155.00 respectively. In the IT sectors, INFY and TCS were down 1.94% and 1.10% at Rs. 2,293.00 and Rs. 1,024.70 respectively. In the BFSI sectors, IDFC and HDFC were up 2.04% and 1.77% at Rs. 117.80 and Rs. 670.95 respectively.

HINDUNILVR (up 3.34%), HEROMOTOCO (up 2.50%), IDFC (up 2.04%), HDFC (up 1.77%) and CAIRN (up 1.76%) were among the gainers, while AMBUJACEM (down 3.11%), SAIL (down 2.79%), HINDALCO (down 2.52%), STER (down 2.31%) and INFY (down 1.94%) figured amongst the losers. Apurva Shah
Research Analyst apurva.shah@karvy.com

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Karvy Research Desk

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