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Sensex slips in red; IT,

Jul 232009

bse-sensexIntensified selling pressure in the last one hour of trade pulled benchmarks in the negative territory. Weakness emerged in IT, capital
goods and FMCG space while realty and metals showed strength.

“If Nifty manages to cross 4500 then upward momentum will continue. The index has resistance at 4490-4520-4545

And above 4545 we can see short covering and it could move till 4565-4580 during the day. Where as Nifty has support at 4475-4460-4440 and below 4440 we can see more profit booking in market and it could move till 4420,” said Arihant Capital Market report.

Bombay Stock Exchange’s Sensex was at 15,047.20, down 15.29 points or 0.10 per cent. The 30-share index hit a low of 15032.56 and high of 15369.42.

National Stock Exchange’s Nifty was at 4458.35, down 10.80 points or 0.24 per cent. The index touched an intra-day low of 4456.55 and high of 4557.95.

BSE Midcap Index was up 0.22 per cent and BSE Smallcap Index moved 0.64 per cent higher.

Amongst the sectoral indices, BSE Capital Goods Index slipped 1.20 per cent, BSE IT Index declined 0.99 per cent and BSE Power Index inched 0.62 per cent lower.

Biggest index losers comprised BHEL (-2.12%), Grasim Industries (-1.34%), Bharti Airtel (-0.97%), Infosys Technologies (-0.67%) and Maruti Suzuki (-0.65%).

ONGC (4.24%), DLF (3.78%), Sterlite Industries (3.42%), ICICI Bank (2.56%) and Sun Pharmaceuticals (1.87%) were the gainers.

Market breadth on BSE showed 1426 advances against 1014 declines
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