The government's
decision not to levy minimum alternative tax (MAT) on stock market transactions
of foreign institutional investors (FIIs) failed to buoy sentiment on the
bourses. The barometer index, the S&P BSE Sensex, lost 209.31 points or
0.81% at 25,487.13, as per provisional closing data. The 50-unit CNX Nifty lost
68.85 points or 0.88% at 7,717, as per provisional closing data. The Sensex and
CNX Nifty, both, hit their lowest level in more than a year. Shares of
state-run power and coal sector firms and banking stocks led losses for key
benchmark indices. Bank stocks edged lower after the Reserve Bank of India
issued draft guidelines on computation of banks' base rate based on marginal
cost of funds.
STOCKS TO WATCH
TATASTEEL:
Sell TATASTEEL below 230 stock may show 210/200
LEVELS.
VEDANTA:
Keep selling but only on rise 60/50 levels
are waiting………
HDFC:
Sell HDFCL below 1170 for the target of 1110/1080
in coming days, keep sell on rise.
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