The weakness of the rupee against the dollar brought weakness in the Indian markets. During early trading session, Indian markets declined by 1 per cent. Midcap and Smallcap stocks were also trading weak. All sectoral indices of BSE are trading in red. But metal, auto, realty, consumer durables, IT and power sector index was down 1 per cent.
The BSE 30-share Sensex was 150 points, i.e. 0.9 percent and is trading at 17,009. The 50-share NSE Nifty 47 points, i.e. the index dropped 0.9 per cent and reached below 5.200 and was currently at 5,158. The Asian markets are around 1 to 2.7 percent in weakness.
In early trading, Maruti Suzuki, Sterlite Industries, DLF, BHEL, Hindalco, Tata Motors, Reliance Infra, Siemens, Tata Steel, Sesa Goa, JP Associates, Jindal Steel, IDFC, BPCL, Bank of Baroda, TCS, Kotak Bank, GAIL, ONGC, SBI, PNB, SAIL, Asian Paints, Sun Pharma, HCL Tech, Dr Reddy, Wipro, ICICI Bank, Hero Motokorp, NTPC, Infosys, ITC and heavyweight stocks such as HDFC Bank has weakened from 0.75 to 4.8 per cent. Nifty 50 stocks, 46 stocks have declined. However, 0.5 per cent in Tata Power and Cipla are trading high. ACC and Ambuja Cements is visible in the slight edge.
Pantaloon Retail midcap stocks, Mahindra Holidays, Shoppers Stop, United Phosphorus and Tube Investments are the most lost 3-6 per cent. The AIA Engineering, Shree Global Tradefin, HMT, Motilal Oswal and midcap stocks like Bank of Maharashtra has strengthened from 3 to 10.8 per cent. The Warren T, Walchandnagar, Sabero Organics, Simplex Infrastructure and share from 4.5 to 7.8 per cent drop Jedf Smolackp are like steering. But small-cap stocks, Oil Country, Jai Balaji Industries, Tuni Textile, Hexa Tredeks and ISMT has the most 4 to 6.2 per cent.
Stocks and Nifty Tips:
Sell Kotak Mahindra priced Rs. 557.85, Target Rs. 545
Buy Hero Motocorp priced Rs. 2060.00, target Rs. 2340
Buy United Pros. priced Rs. 120.85, Target Rs. 172
Buy Exide Industries priced Rs. 131.85, target Rs. 149