SENSEX SLIPS 0.9 PCT IN EARLY TRADE; ICICI BANK, RIL, L&T DOWN
Date: 09/04/2012
The BSE Sensex slipped as much as 0.9 per cent early on Monday with ICICI Bank, RIL and L&T leading the losses. The broader 50-share NSE index was down 0.9 per cent to 5,272.40. www.goldennifty.com
"We are likely to open with gap-down tracking weak global cues and there is a possibility we might break the pivot level of 5300 on the Nifty. On downside, support is expected at levels around 5250," said Rakesh Gandhi, Sr Technical Analyst at LKP Securities Ltd.
"From charts perspective, 5400 remains extremely sticky zone and the Nifty will have to make extra efforts to cross this resistance zone. The current set up indicate that we may see a range bound markets for few days and we might see markets trading in tight range," added Rakesh.
BSE index was trading 0.9% lower at 17,325.16 points led by losses in ICICI Bank (down 1.6%), RIL (down 0.9%) and L&T (down 1.8%). www.goldennifty.com
Top Sensex gainers include Tata Power, which was trading 1.04% higher and Hindutan Unilever Ltd was trading at Rs 401.55, up 0.5%.
Shares of Suzlon Energy Ltd surges over 1% in early trade after the Asia's third-biggest wind turbine maker by sales, is studying options for its German Repower Systems SE subsidiary, including a sale or listing a stake. www.goldennifty.com
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