Thursday, May 31, 2012
Indian Share Market Trend &Tips 01st June 2012
The Indian share market closed with moderate losses. Auto sector was the biggest loser in today's session and consumer durables and capital goods also lose significantly while Realty, It and tech sector supported the indices well. Bse Sensex closed at 16219 and Nifty closed at 4924. The CNX Midcap index was up 0.2% while BSE Smallcap index lost 0.6% in today's trading session.
Maruti Suzuki shares fall 3.5%. The drop in the rupee is expected to raise the cost of imports, such as engines, and increase the cost of royalty payments. ICICI Bank declined over 3% as the stock turned ex-dividend. Educomp hits new 52 week low post weakness in earnings. The management says corporate governance issues are unfounded and they will redeem all their FCCBs due in July 2012.
Share Market Tips For Tomorrow
BPCL Buy call above 704.50 with stop loss below 697 and target of 710-720.
Axis Bank Sell call below 970 with stop loss above 982 and target of 960-652.