14 Jan 2011 Another Black Friday on D Laal Street

14 Jan 2011 Closing Market Updates  15:30

Again massive volatility took investors on a long ride as December Inflation surged to 8.43% compared to 7.48% (MoM).
Nifty opened negative and made an intra day high of 5827 but failed to cross 5840 and again it shown its previously made recent low of 5720.The Central Bank of China hiked the Reserve requirement ratio by 50 basis points.It changed the market sentiment and selling pressure was so terrible that it could not even sustain at the level and plunged upto 5639.65 and ended at 5644.75, losing 107.15 points. Sensex ended below 19000 mark at 18837.74 with a 345.08 points fall.
Now the support will be around 5400 level. But upto that level aslo the Bull Phase will be still protected
All the BSE Sector Indices ended in red. Bankex was the top loser with 2.92% down.
In Nifty50 stocks, Wipro gained the most with 1.93% and ended at 462.3 whereas Sail was the top loser with 6.41% to end at 161.25.
Advance/Decline ratio was negative as 301 stocks gained and 1090 stocks declined.
Major Global Indices :
Hang Seng            :  + 44.25
Nikkei                  :   - 90.72
FTSE                   :   - 41.27
CAC                    :   - 12.00
DAX                    :   - 23.91
Dow Jones Future :   -  5.00
Nasdaq Future      :   + 2.50
HDFC Results :
The Company has posted a net profit after tax of Rs 8908.80 million for the quarter ended December 31, 2010 as compared to Rs 6712.50 million for the quarter ended December 31, 2009. Total Income has increased from Rs 27622.10 million for the quarter ended December 31, 2009 to Rs 33210.40 million for the quarter ended December 31, 2010.