Intraday nifty tips (Sensex falls on profit )

Sensex falls on profit booking, BHEL plunges 8%

Golden Investment Private Limited

 

Date: 30.01.2012

Goldennifty said: Weakness in Asian markets and underperformance in some large heavyweights saw the benchmark indices decline nearly 1% in early trade Monday. 

The Sensex traded 135 points lower at 17,099 and the NSE Nifty declined 44 points to 5,160 at 0930 hours.

Though most sectoral indices traded lower, cap goods stocks saw the biggest selling pressure, falling over 2.5%. Heavy equipment maker BHEL plunged 8% on the back of weak Q3 numbers. 

'BHEL has reported a negative order inflow... which we have not seen in last 7-8 yearsBanks, metals, power and realty stock tips traded 1-2 per cent lower.

Domestically, markets have seen a great run up. There has been no disappointment in results from the banking sector.

However, a cautious stand is required at current levels and one should look to book some profits. 

The stock market tips breadth was weak with only 36% stocks rising on the broader BSE 500 index.    

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