Stocks remained subdued as losses in realty and metal stocks took a toll on sentiment. But key indices pulled back marginally with the Nifty regaining the 4800 mark.
“In the minor term, support for Nifty continues to remain at 4780. If this level is broken then we could see selling pressure emerging and Nifty might test 4720 or 4680. And in the slightly intermediate term, support exist at 4560, unless Nifty breaks below 4560 with huge volume this trend is safe and every dip is a buying opportunity. Resistance is at 4900; if this level is breached with positive market breadth and huge volumes then the next target is 5050-5200,” said Nirmal Bang Securities in a technical note.
At 11:30 am, Bombay Stock Exchange’s Sensex was trading at 16,194.49, lower by 0.43 per cent or 69.81 points from the previous close. The index fell to a low of 16,119.95 after opening at 16,185.26. National Stock Exchange’s Nifty lost 0.52 per cent or 25.35 points to 4804.20. The index touched a high of 4832.25 and low of 4786.25 in trade so far.
The broader market scrambled back after an initial blip. The BSE Smallcap Index edged 0.13 per cent higher and BSE Midcap Index was trading 0.07 per cent down.
Sectorwise, BSE Realty Index slipped 1.59 per cent, BSE Metal Index lost 0.94 per cent and BSE Oil&Gas Index dropped 0.67 per cent.
Jet Airways India surged 5 per cent after the five-day-old stir by its pilots ended and the airline
management reached a settlement with the agitators. Shares of Jet Airways India surged 5.05 per cent to ahigh of Rs 270.40 on the BSE.
Biggest index gainers were Jaiprakash Associates (1.43%), Tata Steel (1.29%), Wipro (0.82%), Hindustan Unilever (0.74%) and BHEL (0.62%).
Losers comprised Sterlite Industries (-2.93%), Hindalco Industries (-2.62%), ONGC (-1.64%), DLF (-1.52%) and Reliance Communications (-1.31%).
Market breadth on BSE remained negative with 1192 declines against 1185 advances.
News Source : Stocks subdued; Nifty holds 4800
“In the minor term, support for Nifty continues to remain at 4780. If this level is broken then we could see selling pressure emerging and Nifty might test 4720 or 4680. And in the slightly intermediate term, support exist at 4560, unless Nifty breaks below 4560 with huge volume this trend is safe and every dip is a buying opportunity. Resistance is at 4900; if this level is breached with positive market breadth and huge volumes then the next target is 5050-5200,” said Nirmal Bang Securities in a technical note.
At 11:30 am, Bombay Stock Exchange’s Sensex was trading at 16,194.49, lower by 0.43 per cent or 69.81 points from the previous close. The index fell to a low of 16,119.95 after opening at 16,185.26. National Stock Exchange’s Nifty lost 0.52 per cent or 25.35 points to 4804.20. The index touched a high of 4832.25 and low of 4786.25 in trade so far.
The broader market scrambled back after an initial blip. The BSE Smallcap Index edged 0.13 per cent higher and BSE Midcap Index was trading 0.07 per cent down.
Sectorwise, BSE Realty Index slipped 1.59 per cent, BSE Metal Index lost 0.94 per cent and BSE Oil&Gas Index dropped 0.67 per cent.
Jet Airways India surged 5 per cent after the five-day-old stir by its pilots ended and the airline
management reached a settlement with the agitators. Shares of Jet Airways India surged 5.05 per cent to ahigh of Rs 270.40 on the BSE.
Biggest index gainers were Jaiprakash Associates (1.43%), Tata Steel (1.29%), Wipro (0.82%), Hindustan Unilever (0.74%) and BHEL (0.62%).
Losers comprised Sterlite Industries (-2.93%), Hindalco Industries (-2.62%), ONGC (-1.64%), DLF (-1.52%) and Reliance Communications (-1.31%).
Market breadth on BSE remained negative with 1192 declines against 1185 advances.
News Source : Stocks subdued; Nifty holds 4800
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