Thursday, 12 July 2012

Stock Market today: Sensex 200 points low

Market tumbled on Thursday, after the IT major company announced much lower than the expected guidance for its first quarter results for FY 13. Infosys shares fell to 10.2 percent after the company's result, saying it expected a grow by 5 percent in the revenue in the FY 13.
stock market today and tomorrowThe 30 share BSE Sensex and the broader 50 share NSE Nifty Index fell down 1 percent. The Infosys shares deteriorate to as much as 10% to Rs. 2265
The first quarter results of Infosys affected the IT Index, Banking Index, Power and Metal stocks, while Pharma companies were trading in green.
The Bank Index Stocks of NTPC, ICICI Bank, State Bank of India, HDFC Bank were trading low. Led by the IT Index, stocks of L&T, JSPL were trading in red. Power and Metal also declined by almost 1-2%, these included NTPC, Tata Power, Tata Steel, Tata Motors in the early trading session.

Nifty Trend To follow:

Experts advice that if Nifty reaches  a level of 5270, it is not the buying opportunity. the ideal level to go short will be if the Nifty breaks this hurdle of 5270.

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