Post Session Market Analysis for Nov 15, 2011

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Today, the domestic bourses ended on a bearish note, as the benchmarks continued their losing streak and declined for a fourth straight session amid weak global cues. The Realty and Capital Goods space showed maximum weakness.

BSE SENSEX closed at 16882.67 down by 236.07 points or by 1.38 % and then NSE Nifty ended at 5068.5 down by 79.85 points or by 1.55 %.The BSE MIDCAP closed at 5907.19 down by 156.56 points or by 2.58 %, while the BSE SMLCAP ended at 6461.38 down by 184.11 points or by 2.77 %.The BSE Sensex touched intraday high of 17172.09 and intraday low of 16837.56. The NSE Nifty touched intraday high of 5158.75 and intraday low of 5052.85.

The negative closing of the US markets on Monday weighed on domestic sentiment during morning trade. On Monday, the Dow Jones Industrial lost 74.70 points and closed at 12078.98. The S&P 500 lost 12.07 points and closed at 1251.78, while the NASDAQ at 2656.29, losing 21.53 points over the previous day"s closing. Soon after witnessing a gap down opening, the benchmarks were trading below the baseline amid weak cues from the Asian markets. Asian markets fell on Tuesday amid fresh worries over the lingering Eurozone debt crises. Sentiment weakened after credit default swaps for the Italian, Spanish and French sovereign debt rose to fresh highs on Tuesday amid a rise in borrowing costs. Investors are concerned that the newly appointed Italian and Greek governments may be unable to deal with the debt crises. The domestic benchmarks recovered briefly from the morning low, before slipping back into the negative terrain. The benchmarks continued to trade on a volatile note, before plunging sharply in the final couple of hours of trading tracking a sharp-sell off in the European markets on Tuesday. Finally, the benchmarks closed on a negative note, with the Sensex and Nifty shedding over 1.3 % each. Among the sectoral indices, BSE Realty and BSE Capital Goods fell by 5.22% and 2.77%, respectively.

Among the Sensex stocks, DLF, Jaiprakash Associates, Mahindra and Mahindra, ICICI Bank and Larsen and Toubro fell by 6.66%, 5.84%, 3.97%, 3.70% and 2.81%, respectively. Among the 30 Sensex stocks , there were 3 advances and 27 declines. On BSE out of total shares traded 3009, shares advanced were 646 while 2265 shares declined and 98 were unchanged.

On the economic front, India's services export receipts in September 2011 were at $11.23 billion, lower than $11.90 billion in August 2011, the central bank data showed.

On the global front, the German economy expanded at a faster pace in the third quarter, 2011, compared to the previous quarter on higher consumer spending. Gross domestic product expanded by 0.5 percent in the July-September 2011 period, compared to the previous quarter.

On the Asian front, Shanghai Composite rose by 0.04%, but Hang Seng closed lower by 0.82% and Nikkei 225 fell by 0.72% on Tuesday.

On the European front, CAC 40 was down by 1.96%, DAX was trading lower by 1.95% and FTSE 100 was down by 0.95% on Tuesday.

On the corporate front, R.P.P. Infra Projects Ltd has posted net profit of Rs. 767.04 lakhs in the quarter ended September 30, 2011 versus Rs. 343.69 lakhs in the same period of last fiscal year. The company"s revenue for the reporting quarter increased by 99.63% at Rs. 7175.12 lakhs as against Rs. 3594.12 lakhs in the year-ago period. The stock closed down by 0.54% at Rs 64.55 on the BSE.

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