The markets lost substantially with metal and power being the biggest laggards in today's session. Expected lower GDP growth in China also played a role in pulling metal stocks down. FMCG, consumer durables and IT were the only three sectors that managed to close positive.
The Sensex closed at 17173, down 190 points from its previous close, and the Nifty shut shop at 5222, down 58 points. The CNX Midcap index closed with 0.8% loss while the BSE Smallcap index was down 1.3% in today's trade.
The market breadth was negative with advances at 409 against declines of 1034 on the NSE. The top Nifty gainers were DLF, Siemens, ITC and Mahindra & Mahindra while the biggest losers included Reliance Power, Tata Steel, Hindalco and Reliance Infra.
*SELL Reliance Power Ltd. Short Term Target 110 Stop Loss 135.
*BUY Sterlite Industries (India) Ltd. Med Term Target 132 Stop Loss 105.
*BUY Reliance Capital Ltd. Short Term Target 450.
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