Thanks to a sharp rebound in last half an hour, benchmark indices recovered nearly a percent from the lowest point of the day to end with modest losses. Sensex closed at 17944, down 88 points while Nifty finished at 5402, down 13 points. BSE Mid-cap and Small-cap indices lost 0.6% and 0.9% respectively. GDP for the April-June quarter showed a growth of 8.8% as against 8.6% in the previous quarter. European markets were trading down about a percent while US stock indices futures were lower by nearly a third of a percent ahead of data on Chicago Purchasing Managers Index and Consumer confidence.
BSE advance-decline ratio stood at 1:2.2.
Intraday calls from Fairwealth Securities:
Sell Bharat Heavy Electricals (BHEL) below Rs 2,390 for target of Rs 2,370-2,350 and stop loss of Rs 2,410.
Sell Reliance Industries (RIL) below Rs 915 for target of Rs 905-895 and stop loss of Rs 925.
Buy Ranbaxy Laboratories above Rs 494 for target of Rs 499-504 and stop loss of Rs 488.90.
Other calls from different Brokers:
Prabhudas Lilladher recommends to ‘Accumulate’ BOI (Bank of India) with target of Rs 491 as against CMP of Rs 447
Asit C Mehta recommends ‘Hold’ on Tata Sponge Iron with target of Rs 335 as against CMP of Rs 322
Mansukh Securities recommends ‘Buy’ on Heidelberg Cement with target of Rs 60 as against CMP of Rs 47.4
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