SHREE GANESHAY NAMAAH !

Sensex retreats, closes 159 pts down; Reliance, Bharti drag

Sensex Retains The Level Of 16000, And Nifty 4800 !

Expect a year-end bash, global cues weigh

The Sensex closed with 1% loss on Tuesday, weighed down by heavyweights Reliance Industries and Bharti Airtel. Among others, banks, realty and metal stocks added pressure on the market in the second half of trade. The Sensex was down 158.79 points at 16,008.34, which had rallied over 470 points yesterday. The Nifty tested an intra-day low of 4787.10, before closing down 46.20 points at 4,805.10.

Index heavyweight Reliance Industries was down 2.5% after sources claimed that government may opt to hold on to inducting BP (which signed USD 7.2 billion deal with RIL for 30% stake in 21 coal blocks) as co-owner in KG-D6. Sources also say, BP's role will be uncertain till it becomes co-owner in KG-D6 basin and arbitration complete. Arbitration is likely to take at least 1-2 years.

Shares of Bharti Airtel tumbled 3.8% after Edelweiss report. The company strongly opposed Edelweiss' analysis of its annual report. The brokerage firm had highlighted telecom major’s significant exposure to USD loans due to the Zain acquisition in 2010. According to the report, if steep fall in INR sustains and the rupee cash flows are used to service debt, it will lead to higher cash outflow of Rs 4,200 crore.

Month Stats :
Open : 5321.60
High : 5353.95
Low : 4632.25
Close: 4816.75
Avg. : 5031.14

Yearly (2011) : 
Open : 6177.45
High : 6181.05
Low : 4632.25
Close: 4816.75
Avg. : 5451.88

NIFTY FUTURE 

R5 : 4926
R4 : 4892
R3 : 4868
R2 : 4856
R1 : 4836

CMP: 4816.75

S1 : 4800
S2 : 4768
S3 : 4740
S4 : 4726
S5 : 4700

Market Updates : 

Wockhardt leads gainers in 'A' group

Dish TV India, Mahindra & Mahindra Financial Services, Indiabulls Financial Services and Gujarat State Petronet are among the other gainers.

Pharmaceutical company Wockhardt galloped 6.02% to Rs 413.65 on bargain hunting. The stock topped the gainers in the BSE's 'A' group.

Shares of Wockhardt had underperformed the market over the past one month until 28 November 2011, sliding 11.93% compared with the Sensex's 9.20% decline.

Direct-to-home company Dish TV India jumped 4.22% to Rs 67.85, extending Monday's 4.33% rise triggered by the finance ministry's clearance to the company's proposal to raise foreign equity to the extent of Rs 980 crore. The stock was second biggest gainer in 'A' group.

Dish TV India had sought permission to raise funds to produce telecommunication equipment and provide management and marketing of 'agrani' services in the area of mobile satellite communications. The finance ministry's decisions was based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on 15 November 2011.

Mahindra & Mahindra Financial Services climbed 3.84% to Rs 647.20. The stock was third biggest gainer in 'A' group.

Indiabulls Financial Services rose 2.79% to Rs 136.30 on bargain hunting. The stock was fourth biggest gainer in 'A' group.

Shares of Indiabulls Financial Services had underperformed the market over the past one month until 28 November 2011, sliding 15.65% compared with the Sensex's 9.20% decline.

Gujarat State Petronet, which operates natural gas transmission network, rose 2.67% to Rs 88.45 on bargain hunting. The stock was fifth biggest gainer in 'A' group.

Shares of Gujarat State Petronet had underperformed the market over the past one month until 28 November 2011, falling 13.98% compared with the Sensex's 9.20% decline.

Sensex off 9.5% in November 2011 thus far

Market loses ground as Govt fails to break impasse on retail reform

Note : Data From Capital Market And Money Control !

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