MARKET SUMMARY FOR 02 SEPTEMBER 2015

YESTERDAY’S DABUR IS ON FIREEE !!!!!!!!!!!! ALMOST HIT FINAL TGT 285 MADE HIGH OF 284.20

The US markets ended lower amid continued uncertainty about China and the Federal Reserve. Asian markets too are in the red with Japan's Nikkei down over 1 percent. The markets slipped in the last hour to end with marginal losses with the Nifty falling below 8,000. Equity benchmarks shed 0.4 percent, dragged by profit booking in capital goods, select banking & financials, oil and technology stocks while pharma stocks bucked the trend. Bears retained tight as equity benchmarks ended at 13-month closing low on Wednesday, continuing downtrend for the third consecutive session. Further fall in banking & financials in last couple of hours of trade pulled the market lower. However, buying in technology and index heavyweights ITC & Reliance Industries capped the downside. Sensex fell 242  points or 0.95 percent to 25453, the lowest closing level since August 8, 2014. Nifty managed to claw back above the 7700 level in late trade (hitting day's low of 7699.25), down 68 points or 0.88 percent to 7717, the lowest closing level since August 11, 2014.
SECTORS AND BUZZING STOCKS

On the sectoral front, barring BSE IT, FMCG and Realty indices, all other indices ended lower with BSE Capital Goods, Bankex, Power indices down between 1-2%.Banking stocks reeled under pressure after the Reserve Bank of India (RBI) issued draft guidelines on Tuesday for its proposed plan to change how banks calculate their lending rates. HDFC Bank, SBI, Axis Bank and ICICI Bank lost between 0.5-3.5%.