FIIs were net sellers with the tune of ` 427.67 crore whereas DII were net buyers of ` 85.07 crore on Friday, the 9th September 2011(prov. fig.)
The BSE Sensex shed 298.57 points or 1.74% to settle at 16,866.97, its lowest closing level since 6 September 2011. The index fell 334.95 points at the day's low of 16,830.95 in late trade. The index rose 46.26 points at the day's high of 17,211.80 in early trade, its highest level since 12 August 2011. The S&P CNX Nifty was down 93.80 points or 1.82% to settle at 5,059.45, its lowest closing level since 5 September 2011. The Nifty hit a low of 5,046.80 in intraday trade. The BSE Mid-Cap index fell 0.84% and the BSE Small-Cap index declined 0.75%. Both these indices outperformed the Sensex.
The market breadth was negative. The breadth was strong at the onset of the trading session. On BSE, 1,672 shares fell and 1,207 shares rose and a total of 93 shares remained unchanged. Among the 30-share Sensex pack, 23 fell while rest of them rose.
FOR THE WEEK: US president Barrack Obama's USD 447 billion jobs plan did not work and really enthuse investors. Market may witness huge volatility because of having very important events due on next week like IIP data on 12th Sept, Monday, Monthly Inflation data on 14th Sept, Wednesday, Q2FY12 Advance tax numbers 15th Sept onwards and RBI policy on 16th Sept, Friday. Estimates show a fall in the Industrial production numbers for the month of July to 6.2% from 8.8% in June. In addition, a high value of Put/Call ratio and net addition of in the money puts at these levels w.r.t. net dissolution of in the money calls indicates that indices may witness some weak movement with higher volatility in future with having Nifty-5000 level as axle of oscillation.
TODAY A GAP DOWN OPENING IS EXPECTED. WATCH 4970/4950/4940 ON THE DOWNSIDE WHEREAS ON THE UPSIDE, 5055/5067/5089 WILL ACT AS RESISTANCE.
