SENSEX SLIPS
0.3% IN EARLY TRADE; ONGC, HDFC BANK, SBI DOWN
Date :
19.03.2012
The BSE Sensex slipped 0.3% early on Monday
with ONGC, HDFC Bank and SBI leading the losses. The broader 50-share NSE index
was down 0.3 per cent to 5,300.65.
"Indian markets closed lower after the budget announcement on Friday which looks more of a bearish sign for the markets atleast on the short term hourly charts. On a very short term outlook, 17,000 on the Sensex and 5200 for the Nifty are extremely important levels to watch out and fall below these levels could activate pressure for further lower levels.
"However, now to continue upward trend there should be enough traction generated for Nifty to sustain levels above 5,465. If that does not happen, we may see market moving in either direction. www.goldennifty.com
The 30-share BSE index was trading 0.2% lower at 17,428.16 points led by losses in ONGC (down 2%), HDFC Bank (down 1.4%) and SBI (down 0.8%). www.goldennifty.com
Top Sensex gainers include, Tata Motors, which was trading 1.5% higher and M&M was trading at Rs 686.10, up 1.4%.
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