MARKET SUMMARY FOR 24 JUNE 2015

The Sensex slipped by 75 points its first fall in nine days to 27,729 in late sell-off after news that the creditors rejected Greece’s new proposal took a toll on the market sentiment. After trading in positive zone for most part of the day, the index plunged over 200 from a high of 27,948 at the fag-end tracking losses in European stocks. and on sustained buying largely in tune with above-normal progress in monsoon. However, it slipped towards the close on negative global cues and touched the day's low of 27,647, before settling 75 points or 0.27 per cent down at 27,729.

HUL, BHEL, Sun Pharma, Lupin and Coal India are top gainers in the Sensex. Among the losers are Hindalco, M&M, Tata Steel, Maruti and SBI. The market is still maintaining its uptrend. The Sensex is up 76 points at 27880 and the Nifty is up 19.70 points at 8418. About 1172 shares have advanced, 902 shares declined, and 124 shares are unchanged.

Sensex fell on Wednesday, to snap an eight-day winning streak, its longest advance in nearly five months, tracking sharp declines in European shares after Greece said international lenders had rejected its latest proposals. With international cues being positive and bulls having strong grip over the market; there could be another attempt to take out the level of 8400 today. This is more so because in day’s session, the Bank Nifty is likely to perform strongly and could well provide the required gumption to push the Nifty forward. The range between 8347 and 8365 would act as the most critical zone for the day. So long as this range is held by the bulls, there would hardly be any threat of any serious sell off; however, once taken out it may lead to a fall to test the next support zone between 8321 and 8286. Till such time the Nifty closes below 8335, the bulls would have a strong grip over the market.