Wednesday, August 25, 2010

Nifty ends below 5475 ahead of August F&O expiry

MUMBAI: Indian markets ended a volatile session in the red for second consecutive day Wednesday, as traders squared positions ahead of August F&O series expiry. Weakness in the global markets also kept the bulls away. Selling pressure was seen across the board with midcaps and smallcaps worst hit.



National Stock Exchange's Nifty closed at 5462.32, down 42.75 points or 0.78 per cent. The index touched a low of 5452.55 and high of 5506.15 in today's trade.



Bombay Stock Exchange's Sensex ended at 18179.64, down 131.95 points or 0.72 per cent. The index touched intraday low of 18156 and high of 18312.43.



"Open interests are on the high side, indicating that leveraged positions are higher in the market. Also, volatility is on the lower side and any surge in volatility could have negative impact. Any move below 5450 could put Nifty under pressure," said Ashish Chaturmohta, VP-derivatives&technicals, Anand Rathi.



BSE Midcap Index was down 1.49 per cent and BSE Smallcap Index moved 1.42 per cent lower.



Most sector indices ended lower. BSE Realty Index was down 3.16 per cent, BSE Auto Index moved 1.44 per cent lower and BSE Healthcare Index slipped 1.31 per cent.



Nifty losers included Unitech (-3.83%), DLF (-3.55%), Tata Steel (-3.45%), Cipla (-3.06%) and Hindalco (-2.97%).



Idea Cellular (4.50%), Sterlite Industries (1.12%), PNB (0.77%), Reliance Power (0.52%) and Jindal Steel (0.32%) were amongst the top gainers.



Market breadth was negative on the NSE with 2,243 losers against 998 gainers.



European markets were witnessing selling and US peers are also likely to open lower. At 5 pm IST, Dow Jones futures was down 0.11 per cent, S&P 500 slipped 0.10 per cent and Nasdaq moved 0.21 per cent lower
News From: http://www.7StarNews.com

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