Due to weak global cues mood was bad Markets. However Nifty managed to stay above 5400. BSE Sensex down 38 points to 17 847 and NSE Nifty fall 8 points to closed at 5413 level. Heavy selling in Mid Cap stocks. Small Cap stocks also ended lower. Realty and Power shares fell 0.8%. Capital goods, Technology, Consumer Durables, Oil & Gas, FMCG stocks were dropped from 0.3 to 0.2%.
Indian Market started weak due to Asian markets fall. Bharti Airtel share continued to fall in the second day and lost 4%. Bharti Airtel reached lowest level in 6 years.
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Asian markets declined due to Japan exports sharp fall In July. Hang Seng lost 1%. Shanghai Composite, Kospi, Nikkei dropped from 0.5 to 0.25%. Singapore Nifty also lower.
Rupee against U.S. Dollar remains close to 55.5. Dollar has been softening because of expected to be taken action by European Central Bank.
Stock Intraday Tips for tomorrow 23 August 12
Bharat Heavy Electricals Ltd. (BHEL) Buy target - 240 – 245, stoploss - 229.
Sell Housing Development & Infrastructure Ltd.(HDIL), stoploss – 84, target - 74.
Ranbaxy buy above 540, target - 548-554, stoploss - 529.
