"TRADING IDEA FOR WEDNESDAY (03.08.2011)"

FIIs were net sellers with the tune of ` 201.68 crore on Tuesday, the 2nd August 2011(prov. fig.);
The BSE Sensex was down 204.44 points or 1.12% to 18,109.89, its lowest closing level since 23 June 2011. The index dropped 276.46 points at the day's low of 18,037.87 in afternoon trade. The Sensex fell 30.28 points at the day's high of 18,283.55 in early trade. The S&P CNX Nifty was down 60.25 points or 1.09% to 5,456.55, its lowest closing level since 23 June 2011. The Nifty hit low of 5,433.65 in intraday trade. The BSE Mid-Cap index fell 1.53% and the BSE Small-Cap index declined 1.45%. Both these indices underperformed the Sensex.
The market breadth was weak. On BSE, 2,013 shares fell and 857 shares rose  and a total of 93 shares remained unchanged. From the 30 share Sensex pack, 23 stocks fell and the rest rose. NTPC, Cipla and ONGC rose by 0.88% to 2.23%.
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