ABB ALMOST HIT FIRST TGT 1070 MADE LOW OF 1076.05!!!!!!!!!!!!!
Event Today: Rail Budget 2016 to be presented today and F&O Expiry
Event Today: Rail Budget 2016 to be presented today and F&O Expiry
Sensex ended with a loss of 321 points at 23,089.
The Sensex opened at 23,333, touched an
intra-day high of 23,339 and low of 23,057.The Nifty closed with a loss
of 91 points at 7,019. The Nifty opened
at 7,075 hitting a high of 7,091 and low of 7,010. Nifty, which opened with a gap down saw a smart
pull back in the mid-afternoon trades. However, fresh selling pressure emerged
and it could only intensify from here on. If Nifty violates an important
support of 6960, another round of selling cannot be ruled out. In addition, we
expect the volatility to amplify on account of F&O expiry. We advise
investors to remain cautious before taking any long positions in the index. The losses
in metal, pharma, industrial, capital goods, auto, power and banking counters
weighed on the index. Railway stocks closed down on BSE ahead of the
rail budget on Thursday.
Shares in Kalindee Rail Nirman Engineers plunged 1.7%
to Rs.135. Siemens slipped 2.3% to Rs.994. Titagarh Wagons stock ended 2.6% at
Rs.123. Texmaco Rail & Engineering slipped 2.6% to Rs.123.75. Railway
Minister Suresh Prabhu is planning to boost Indian Railways’ capex by nearly
50%, according to reports. Prabhu is planning to keep the transporter’s
operating ratio (OR) for this fiscal at a level of below 90%.
TOP GAINERS:
BPCL, Power Grid, M&M, Bharti Airtel, Axis
Bank, Yes Bank, Asian Paints and Bank of Baroda
TOP LOSERS:
BHEL, NTPC, Tata Motors, Hindalco, Vedanta and Cairn India
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