DAILY MARKET REPORT – 26 JULY 2012

Ok today was the expiry and markets were going to be volatile. But the news of mid-cap stocks being battered right from the beginning!!! News makers stated that operators saw their margin calls being triggered, causing them to sell shares. 51 stocks would also not be included in the F&O category from the next contract onwards. It seems that Vanguard Fund was a holder of most of the mid-cap stocks which were offloaded heavily today.

Earnings data also came in but the broader markets just collapsed just half an hour before closing. Markets ended near day lows and could continue trading in the lower range in the coming periods.

The Sensex closed 206 points down at 16639.82 points (-1.22%) and the Nifty closed at 5043, down 66 points (-1.30%). Globally, Asia was flat in trade, with markets closing marginally higher. Europe is trading higher on earnings reports, and that ECB President Draghi stated that the EU would do all it could to protect the euro.

On the sectoral front for indices on the BSE, the Midcap Index declined 1.26 percent, the Smallcap Index lowered 1.21 percent.  The Realty Index fell 1.72 percent, the Capital Goods Index also fell 1.30 per cent and the Oil & Gas Index declined 0.92 percent. However, the Healthcare Index was up 0.51 per cent.

On the stock front, mid caps were the biggest losers in trade. Stocks of co’s such as Tulip Telecom, Everonn Educations, Parsvnath Developers, Radico Khaitan, Glodyne Techno, Pipavav Defence, SRS, Nitin Fire were one of the main stocks affected. Tata Motors declined 4 percent in trade.

Expectations of a price hike in diesel prices and reforms that the govt would undertake post presidential elections could have made investors unwind their positions in trade.

On the earnings front, there was a lot of action from India and Europe.

Kindly check the Market Summary tab for further information on stock-related data.

(Economic Times, Business Standard and Bloomberg)



Categories: General News

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