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Tuesday, February 8, 2011

Sensex ends 265 points lower; M&M, ONGC, RCom down

Indian markets ended below crucial support levels as bears staged a come back after a sell-off last week. According to analysts the market is in downtrend and any relief rally must be used to exit long positions.

Bombay Stock Exchange’s Sensex ended at 17771.57, down 265.62 points or 1.47 per cent. The broader index touched a low of 17742.18 and high of 18141.51 intraday.

National Stock Exchange’s Nifty was at 5,311.60, down 84.40 points or 1.56 per cent. The broader index touched a low of 5303.40 and high of 5432.35 in today’s trade.

BSE Midcap Index was down 2.41 per cent and BSE Smallcap Index fell 3.17 per cent.

Amongst the sectoral indices, BSE Realty Index fell 3.45 per cent, BSE Auto Index moved 2.92 per cent lower and BSE Bankex slipped 2.19 per cent. BSE IT Index was down 0.28 per cent.

M&M (-6.20%), ONGC (-5.55%), Jaiprakash Associates (-4.74%), Hero Honda (-4.32%) and Reliance Communications (-4.68%) were the top Sensex losers.

Tata Power (2.16%), Bajaj Auto (1.42%), Hindalco (0.75%), Cipla (0.75%) and Bharti Airtel (0.30%) were the top index gainers.

Market breadth was negative on the BSE with 1882 declines as compared to 860 gainers.

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