|
Written by Tyler_Ross
|
|
Wednesday, 14 March 2007 |
Indian stock market opened feebly along the lines of the international markets with the benchmark indicant dipping more than 2.6 per cent or 350 points to 12,617 levels. Whereas, the Nifty is trading at 3,674 levels with a loss of more than 96 points.
The chief Asian markets are also trading weak on the back of overnight US sales event where Nasdaq and S&P 500 tanked 2.15 per cent and 2.04 per cent correspondingly.
Technical Analyst, Prasoon Dalal explained, “For the Nifty, 3,717 is a crucial support level that might be tested on Wednesday. A breach can take it down to the 3,675 mark.”
ACC, ICICI Bank, Gujarat Ambuja, Tata Motors and Wipro are the losers’ in the BSE 30 pack with a loss more than 3.6 per cent each. Larsen & Toubro, Tata Steel, HDFC Bank, ONGC and HDFC are the supplementary major losers.
In the NSE 50, Suzlon Energy, VSNL, Wipro, SAIL and Satyam Computers are major failures in the early trades.
All sectoral indices are swapping in unconstructive territory. The banking index, BANKEX, which lost 3.7 per cent or 240 points, is the nastiest beat.
Selling is also visible in cement scrips, whereas Titan Industries, Blue Star Limited, Su-Raj Diamonds, Samtel Color, Mirc Electronics, Whirlpool, BPL Limited, Videocon Appliances, Voltas and Salora International are the top losers in the consumer durables pack.
|
